Shell and TotalEnergies, the world's largest and second-largest LNG traders, respectively, reported strong gas trading earnings thanks to the open arbitrage to Asian markets in the third quarter.
The European oil and gas majors, which are also the world’s top LNG traders, reported a mixed bag of third-quarter results, with some beating or meeting estimates and others missing expectations amid diverging gas trading opportunities in Europe and Asia. Shell and TotalEnergies, the world’s largest and second-largest LNG traders, respectively, reported strong gas trading earnings thanks to the open arbitrage to Asian markets in the third quarter.
And today, most of the cargoes are going to Asia because the spot market is in favor of Asia,” TotalEnergies chief executive Patrick Pouyanné said on the earnings call, commenting on the natural gas prices in Europe and Asia and their differentials. “So you might have in this type of market, more call for LNG coming from Asia, so it puts an additional tension on this LNG market.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sinopec Inks Long-Term LNG Deal With QatarEnergyChinese energy giant Sinopec has become the latest company to sign a long-term LNG supply deal with QatarEnergy.
Read more »
Corner shop investigated over alleged failure to deal with crimeTrading Standards has raised concerns with the city council
Read more »
Made in Chelsea's Yasmine questions Inga over new drama with Sam in sneak peekMade in Chelsea's Yasmine Zweegers hashed it out with Inga Valentiner after she was spotted running off with Sam Prince - in a sneak peak at next week's episode
Read more »
Ice hockey star Adam Johnson's made desperate final move before deathAdam Johnson was playing for the Nottingham Panthers against Sheffield Steelers at the Utilita Area last Saturday when the freak accident occurred.
Read more »
Arrests made after thousands gather in Trafalgar Square in support of PalestineSome people chanted ‘from the river to the sea, Palestine will be free’, despite controversy around the slogan’s meaning.
Read more »
Arrest made months after 21-year-old woman killed in Boston Common stabbingBoston police have arrested Alyssa Partsch, 30, of Dorchester, in connection to the July stabbing death of 21-year-old Jazreanna Sheppard, of South Boston.
Read more »