Business & Investment

Live News Update: Cheniere is betting on China’s demand for U.S. gas exports

Cheniere is betting on China’s demand for U.S. gas exports

Asia’s demand for natural gas is set to boost the growth of the LNG industry “in the coming decades”, despite the world’s reduced reliance on hydrocarbons.

Cheniere Energy’s Chief Commercial Officer, Anatol Feigin, will expand $ 7 billion in Texas’ liquefied natural gas facility next year to meet the surge in demand for LNG cargo in China and Japan, which has pushed gas prices to record highs. He said he would approve it.

“Asia will be the growth driver for the LNG demand industry over the next few decades, and we believe China is the largest part of it,” Fagin said.

Cheniere’s investment in Texas is one of several new LNG projects in the United States set up for approval as companies are in a hurry to bring more supply.

A vote of confidence in the long-term demand for ultra-cooled fuels points to a rare area of ​​potential growth in the oil and gas industry, which is being pressured to run out of assets as the world moves to cleaner fuels.

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The world’s largest diamond miners warn that supplies remain tight

Alrosa, the world’s largest diamond miner, warned that the global supply of gemstones would remain tight for several years due to the closure of the mine and the lack of new projects.

Evgeny Agureev, deputy chief executive officer of the Russian group, said Alrosa’s inventories had reached historic lows as demand recovered from the Covid-19 turmoil last year.

“Our industry works with a limited supply,” he told the Financial Times. “We have projects, but these projects will not offer products next year or next year.”

According to Bain, the blockade and sluggish demand last year have cut diamond miners by about 20 percent. A large pit, including the Argyle mine in Rio Tinto, Australia, which produced one-tenth of the world’s supply before it closed in November last year, was also closed.

Bain expects production to remain flat over the next decade. Agreev may find this difficult to manage, but to avoid the over-repetition that caused diamond prices to fall, as in 2016 when the industry faced a downturn due to oversupply. Said it would be useful.

Read more about the world’s largest diamond miners here..

What to see in Asia today

Revenue: The earnings season will be in full swing over the next seven days, with 200 S & P 500 companies reporting results in the United States and many others reporting results in Europe as well. Facebook, HSBC, Michelin and POSCO are reporting their third quarter earnings today.

Facebook: Social platforms will be in the limelight today, not only because of their revenue, but also because former Facebook product manager Frances Haugen submits evidence to the British Parliamentary Commission. In a survey from internal documents published by Haugen: Facebook’s service was used to spread religious hatred in India.

Britain suggests compromise of post-Brexit trade rules in Northern Ireland

Talks to resolve the EU-UK conflict over post-Brexit trade rules in Northern Ireland resumed in London on Tuesday, shifting the focus to a dispute over the role of the European Court of Justice.

The words used by Britain’s Brexit Minister Sir David Frost’s allies suggested that there might be room for compromise on this issue, but British officials called for the removal of the ECJ’s supervisory role in trade rules. He said he stuck to his position.

There was media speculation that Frost could support the “Swiss-style” governance agreement of the Northern Ireland Protocol. This is part of the UK’s withdrawal agreement aimed at establishing regional trade rules and avoiding the harsh borders of Ireland.

Under such arrangements, an arbitration committee will be set up to address disagreements on the Protocol and the ECJ will retain its role in interpreting EU law issues.

British officials said Frost’s formal position has not changed. “The role of the European Court of Justice in resolving disputes between the UK and the EU must end,” he added.

Read more about the talks here..

Live News Update: Cheniere is betting on China’s demand for U.S. gas exports

https://www.ft.com/content/31f12480-4a51-4921-8acb-d4a59d7cbb46 Live News Update: Cheniere is betting on China’s demand for U.S. gas exports

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