Yuta Koga

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Articles

LNG shipments shift to India, Southeast Asia as European demand sags

Aug 16, 2024 | asia.nikkei.com | Yuta Koga

TOKYO -- More exports of liquefied natural gas are heading to India and Southeast Asia as soaring temperatures and a push toward decarbonization stoke demand for cheaper, lower-emission fuel. LNG trade flows to India and the rest of South Asia increased 9% on the year to 33.27 million tonnes in 2023, data from LSEG shows. The figure is on pace to grow in 2024 as well, with the January-July tally coming to 23.06 million tonnes.
Extreme heat joins Russia risk in driving natural gas rally

Jun 21, 2024 | asia.nikkei.com | Yuta Koga

TOKYO -- Extreme heat across much of the world is driving natural gas prices to some of the highest levels this year, exacerbating the upward pressure from worries about Russia curbing supplies to Europe again. The weekly spot price in Asia for liquefied natural gas reached a year-to-date high of $12.60 per million British thermal units (Btu) on June 14, up by roughly half from the three-year low in March, London Stock Exchange Group data shows.
Tokyo exchange eyes expanded carbon credit trading by big companies

May 28, 2024 | asia.nikkei.com | Yuta Koga |Shiko Ueda

TOKYO -- The Tokyo Stock Exchange aims to revitalize Japan's lagging carbon credit market by making it easier for major companies with high emissions to participate starting in November. The TSE opened a market to buy and sell Japanese government certified credits in October. Since then, 310,000 tonnes in carbon credits have traded there, a low number compared with similar markets overseas.
China carbon prices near record high as regulations tighten

May 11, 2024 | asia.nikkei.com | Yuta Koga

TOKYO -- China's carbon allowances are trading in record-high territory as the country's biggest polluters scramble to buy emissions credits amid tightening government regulations. The average spot price of emissions traded on the Shanghai Environment and Energy Exchange hit 101.51 yuan ($14.05) on April 24, exceeding the 100 yuan milestone for the first time, before rising to 104 yuan on April 29.
Qatar to challenge U.S. as top LNG exporter with new expansion

Apr 15, 2024 | asia.nikkei.com | Yuta Koga

TOKYO -- Qatar plans to significantly boost production of liquefied natural gas even with international prices around their lowest levels in three years, aiming to reclaim market share from the U.S. as Washington pauses new export permits. Energy minister Saad Sherida al-Kaabi, CEO of state-owned QatarEnergy, announced in February a new LNG project to "take Qatar's gas industry to new horizons."
China slowdown will lead to global oil glut in 2025: IEA

Apr 12, 2024 | asia.nikkei.com | Yuta Koga

TOKYO -- The global petroleum market will experience an oversupply in 2025, in large part due to the slowdown in Chinese demand, International Energy Agency forecasts released Friday show. Supply will exceed demand by 200,000 barrels a day, marking the first glut in two years.
Oil prices plunge 20% from year's peak on weaker U.S., China demand

Nov 17, 2023 | asia.nikkei.com | Yuta Koga

TOKYO -- Crude oil prices have fallen 20% from a September high to a four-month low as economic slowdowns in the U.S. and China, the two largest consumers, lead to widespread expectations that demand will weaken. West Texas Intermediate crude oil futures closed at $72.90 on Thursday, down 5% from Wednesday and the lowest level since early July. Prices rebounded somewhat to the $74 level on Friday morning.
Crude oil surges as China demand, output cuts defy expectations

Sep 28, 2023 | asia.nikkei.com | Yuta Koga

TOKYO -- Crude oil prices are approaching $100 per barrel amid a reduced international supply and unexpectedly strong demand in China, raising concerns of a resurgence in global inflation. Futures in U.S. benchmark West Texas Intermediate crude rose to around $95 per barrel recently, up from the $70 range at the end of June. If they end the month at a similar level, it could be the sharpest quarterly gain since April-June 2020.
Coal prices jump to 4-month high on China's power demand

Sep 14, 2023 | asia.nikkei.com | Yuta Koga

TOKYO -- International prices of coal have climbed to a four-month high on surging activity by fossil-fuel-burning Chinese power plants to offset the drought-induced shortage of hydroelectricity. Thermal coal logged a spot price of more than $159 per tonne at Australia's Newcastle port Monday. The benchmark has risen a seventh straight week, touching a high not seen since mid-May, and is up 31% from the recent low in late June.
Chinese demand buoys global crude oil prices despite real estate slump

Sep 12, 2023 | asia.nikkei.com | Yuta Koga

TOKYO -- Oil prices hit $89 per barrel in New York on Tuesday, as continued production cuts by OPEC countries and a post-pandemic rebound in economic activity -- especially in China -- fuel a surge in prices worldwide. European benchmark Brent crude oil futures continued their recent climb, briefly reaching $92.38 per barrel on Tuesday, the highest level since last November.