Iran’s oil minister has agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman, the Iranian state news agency IRNA reported on Saturday.

Iran has one of the world’s largest gas reserves, followed by Oman as it hopes to fill its energy-intensive industries and liquefied natural gas (LNG) export facilities. In 2013, the two countries signed an agreement worth $60 billion for Iran to supply gas to Oman via a submarine pipeline.

Iran to Revive Gas Pipeline Project to Oman, IRNA Reports | Devamı>>>

Asian spot prices for liquefied natural gas (LNG) jumped to their highest in more than 20 months this week on robust buying appetite ahead of a colder-than-expected winter, trade sources said.

The average LNG price for December delivery into northeast Asia LNG-AS was estimated at about $6.90 per million British thermal units (mmBtu), jumping $1.10 from the previous week. Prices were boosted by several requirements from buyers in Japan, China and South Korea. China’s Unipec sought 10 cargoes for delivery in winter, while Shenzhen Energy sought a cargo for December delivery, traders said.

Asian Spot LNG Prices Jump to 20 Month High on Firm Demand | Devamı>>>

The widening rift between the world’s two largest economies – the United States and China – has had analysts and market observers using the phrase ‘Cold War’ to describe how far the two global superpowers could go in their increasingly heated dispute. A new Iron Curtain could mean attempts to decouple the intertwined economic and trade relations between the biggest economies in the world, market analyst John Kemp argues.

Such decoupling, however, will take decades and may not be even possible, considering the intertwined global supply chains, including in the energy markets.

Could Rising US-China Tensions Change Global Energy Markets? | Devamı>>>

The latest International Energy Agency (IEA) report on the global natural gas market makes sombre reading, especially for current and would-be producers of the super-chilled version of the fuel.

No doubt much of the commentary on the report, issued on Wednesday, will be around the headline forecast that global natural gas demand will drop by 4%, or 150 billion cubic metres (bcm) in 2020 as consumption takes a hit from the economic impact of the novel coronavirus.

LNG Recovery in Asia Depends on China, India Policies | Devamı>>>