View the full prospectus in PDF
PIRA’s Global LNG Retainer service offers unmatched analytical coverage of what drives LNG markets. Forecasting supply, demand, inventory, and price is just part of a comprehensive, yet concise look at broad trends in the market. Written reports, constant interaction with clients, and a huge volume of underlying data together create a solid base for understanding the future direction of LNG markets.
Global LNG applies rigorous fundamentals analysis to worldwide LNG markets, integrating extensive work done through our retainer services in oil, coal, power, and gas. This cross-commodity approach integrates gas and LNG specifically into a broader context of primary energy demand. Global LNG treats this emerging commodity as a just one piece of a broader market, where prices and inter-fuel competition matter from month to month and year to year and where economics dictate where the incremental cargo goes.
The service covers both the traditional — and financially essential — contract flows of LNG as well as market-responsive spot trade. In the LNG market, we see increasing use of flexible delivery in term contracts, as well as frequent spot shipments supplementing the traditional fixed trade routes. PIRA’s highly regarded research of world energy fundamentals is the foundation of our LNG analysis. In particular, PIRA's understanding of demand-side issues is crucial: We go well beyond LNG cargo counting and give the client a broader understanding of how gas will be consumed by sector and at what price.
PIRA fills the analytical gap in understanding these dynamic relationships. By looking at the fundamentals of energy markets in the Far East, Europe and U.S., PIRA identifies marketing opportunities for LNG suppliers and enables end-users to diversify supplies beyond traditional (i.e. pipeline) gas sources.
Explaining the impact of North American shale gas, the Japanese nuclear disaster, and the promise of new supply basins in East Africa and Australia only touches the surface of what PIRA offers clients. PIRA distills and aggregates vast amounts of market-driven data into a concise and highly accessible series of deliverables to Global LNG clients, which include:
The weekly write-up provides short-term analysis of fundamental changes in the LNG market. PIRA takes the latest data on supply, demand, and inventory from around the world and offers clients insight into how these developments will affect prices in the near term. The scorecard helps clients build up a short-term story in between releases of PIRA's Global LNG Monthly, which complements the weekly scorecard by providing a 6- to 18-month view of where markets are heading.
Consists of a summary/highlights page, fundamentals, and a featured report section:
In addition to the regular monthly Global LNG Monthly report and wealth of statistical data, the LNG service provides frequent in-depth analysis of a particular aspect of the global gas market. Clients benefit from long-term forecasts combined with short-term insights, which integrate macroeconomic analysis with energy market fundamentals.
An LNG-specific database provides encyclopedic information on existing LNG contracts, liquefaction facilities, import terminals, and tankers. The service also tracks daily sendout at U.S. and key European terminals. Along with delivering comprehensive data, PIRA forecasts near-term supply/demand balances as well as shows how the balances will evolve over a longer time-frame. Information is updated on a regular basis and includes long-term gas price projections for North America, Europe, and Asia.
The data includes tables that aggregate more detailed information on the basis of company, country, and region. These tables include:
PIRA has recently enhanced the Global LNG Service with the launch of the newly improved LNG Spot Price Calculator. The Calculator, accessed from PIRA Online, is an interactive tool that provides an indicative and lowest competitive price for markets where indigenous/transparent gas prices do not exist and where other benchmark prices are commonly — but inadequately — used as references. With the Calculator, users can:
This dynamic database captures long-term demand, supply, pipeline shipments and LNG imports and exports at a country and regional level, providing a comprehensive and balanced global picture of natural gas. The gas demand outlook uses PIRA’s World Energy Demand Model, which calculates the total energy requirements for each of the four primary energy consuming sectors and determines which fuels are likely to meet those requirements.
A key online feature of the Global LNG Service is the Energy Price Portal, which allows quick access to short- and long-term natural gas price forecasts, all retrieved at the individual user's discretion.
Users of PIRA’s Energy Price Portal benefit from quick and easy access to PIRA’s latest price forecasts, the ability to create and store custom price spreads using the Price Equation Manager and options to view data in 16 different currencies or in different units.
The Energy Price Portal also features PIRA's Equation Manager, a specially designed utility that allows users to define, analyze and store up to 100 custom price spreads in the form of multi-variable equations that use PIRA’s forecast prices.
With the Equation Manager, for example, users can store individual configurations and use these spread relationships as a predictive tool in forecasting price developments.
In a matter of seconds, users can create and export large data sets in Excel, CSV, and PDF formats as well as have click-of-the-mouse charting capabilities. The Portal’s forecast horizons include both short-term (monthly averages to December 2013) and long-term (annual averages to 2025).
LNG prices contained in the Energy Price Portal are listed below:
Asia (64)
Asia Weighted Average Contract
CIF Japan LNG {Equat. Gun.}
CIF Korea LNG {Qatar}
Asia Weighted Average Spot
CIF Japan LNG {Indonesia}
CIF Korea LNG {Russia}
CIF China LNG {Abu Dhabi}
CIF Japan LNG {Malaysia}
CIF Korea LNG {Trinidad}
CIF China LNG {Australia}
CIF Japan LNG {Nigeria}
CIF Korea LNG {Yemen}
CIF China LNG {Egypt}
CIF Japan LNG {Oman}
CIF Korea Weighted Avg. Contract
CIF China LNG {Equat. Gun.}
CIF Japan LNG {Qatar}
CIF Korea Weighted Avg. Spot
CIF China LNG {Indonesia}
CIF Japan LNG {Russia}
CIF Taiwan LNG {Abu Dhabi}
CIF China LNG {Malaysia}
CIF Japan LNG {Trinidad}
CIF Taiwan LNG {Australia}
CIF China LNG {Nigeria}
CIF Japan LNG {Yemen}
CIF Taiwan LNG {Egypt}
CIF China LNG {Qatar}
CIF Japan LNG Weighted Avg. Contract
CIF Taiwan LNG {Equat. Gun.}
CIF China LNG {Russia}
CIF Japan LNG Weighted Avg. Spot
CIF Taiwan LNG {Indonesia}
CIF China LNG {Trinidad
CIF Korea LNG {Abu Dhabi}
CIF Taiwan LNG {Malaysia}
CIF China LNG {Yemen}
CIF Korea LNG {Australia}
CIF Taiwan LNG {Nigeria}
CIF China LNG Weighted Avg. Contract
CIF Korea LNG {Brunei}
CIF Taiwan LNG {Norway}
CIF China LNG Weighted Avg. Spot
CIF Korea LNG {Egypt}
CIF Taiwan LNG {Oman}
CIF India LNG Weighted Avg Contract
CIF Korea LNG {Equat. Gun.}
CIF Taiwan LNG {Qatar}
CIF Japan LNG {Abu Dhabi}
CIF Korea LNG {Indonesia}
CIF Taiwan LNG {Russia}
CIF Japan LNG {Alaska}
CIF Korea LNG {Malaysia}
CIF Taiwan LNG {Trinidad}
CIF Japan LNG {Algeria}
CIF Korea LNG {Nigeria}
CIF Taiwan Weighted Avg. Contract
CIF Japan LNG {Australia}
CIF Korea LNG {Norway}
CIF Taiwan Weighted Avg. Spot
CIF Japan LNG {Brunei}
CIF Korea LNG {Oman}
CIF Japan LNG {Egypt}
CIF Korea LNG {Peru}
Atlantic Basin (3)
European Contract
European Spot {NBP}
North America Spot {Nymex}
One-on-one interaction between our clients and our energy analysts is one of the cornerstones of PIRA Energy Group’s services. As such, PIRA also provides access to the LNG Group so clients can discuss particular issues that are relevant to their individual company.
LNG is evolving into a global, market-driven commodity, linking gas markets around the world much like crude oil did 50 years ago. Once the U.S. begins to export LNG in the years to come, the connection will be even greater. This evolution to a market-based model creates a need for a more short-term, detailed, fundamentals-driven analysis of LNG, which also keeps an eye on the longer-term balances. With each LNG cargo worth millions of dollars in the spot market, energy market participants need an ongoing service like PIRA’s Global LNG more than ever.
The Global LNG Retainer applies rigorous fundamentals analysis to worldwide LNG markets, integrating extensive work done through our retainer services in oil, coal, power, and gas. This cross-commodity approach integrates gas and LNG specifically into a broader context of primary energy demand. Keeping all of these fuels in balance is difficult and time consuming. Global LNG treats this emerging commodity as a just one piece of a broader market, where prices and inter-fuel competition matter from month to month and year to year and where economics dictate where the incremental cargo goes.
We cover both the traditional — and financially essential — contract flows of LNG as well as market-responsive spot trade. In the LNG market, we see increasing use of flexible delivery in term contracts, as well as frequent spot shipments supplementing the traditional fixed trade routes. PIRA’s highly regarded research of world energy fundamentals is the foundation of our LNG analysis. In particular, PIRA's understanding of demand-side issues is crucial: We go well beyond LNG cargo counting and give the client a broader understanding of how gas will be consumed by sector and at what price.
Historical data, timely analysis of market developments, and price forecasts are critical needs for informed decision-making. Many types of companies can benefit from a deeper understanding of the global market for LNG and the factors guiding spot trade that change from month to month, including:
Ira Joseph (Executive Director, International Gas) manages PIRA’s European Energy Service, which includes distinct service on European Natural Gas (ENG) and European Electricity (EES). In 2001, Ira co-authored PIRA Energy's multi-client study on Atlantic Basin LNG markets and recently completed a study on prospects for LNG in the Balkan and Central European gas markets. Ira joined PIRA in 1999 after working at Energy Intelligence Group for over a decade, as Senior Editor of Petroleum Intelligence Weekly and Editor-in-Chief of World Gas Intelligence. He has authored several books on crude oil marketing and natural gas, including versions of EIG’s International Crude Oil Market Handbook and World Gas Handbook, as well as several articles on natural gas swaps and gas marketing strategy. Ira holds an M.A. in international economics from Johns Hopkins School of Advanced International Studies and a B.A. from the University of Michigan.
Harvey Harmon (Senior Director, North American Natural Gas & Global LNG) has over 25 years experience in the energy industry. Before joining PIRA, he was Director of Natural Gas Import/Export Activities and Senior LNG Policy Advisor at the U.S. DOE. He joined the Global LNG unit of El Paso in 2001 and was responsible for competitor and market analysis. He has consulted for Shell Gas & Power on LNG issues. His experience includes numerous regional and national analyses of natural gas demand, pipeline capacity, and transport, with emphasis on competition at various citygates. Mr. Harmon holds a M.S. in ocean engineering from the University of Wisconsin and an M.B.A from the University of Texas.
Madeline Jowdy (Director, International Gas) came to PIRA after working at Energy Intelligence Group (EIG) as the LNG and tankers correspondent for World Gas Intelligence and Natural Gas Week. She has authored several books on crude oil marketing and natural gas, including versions of EIG’s Top 100 Oil Companies and World Gas Handbook, as well as studies on the Atlantic Basin LNG trade and shipping. Madeline holds a degree in economics and international relations from American University. She completed a master’s program in Middle East Studies at Georgetown’s School of Foreign Service.
Mickey Kwong (Director, International Gas) is responsible for analyzing Global LNG market fundamentals including demand, production, and imports and contributes to all of the Group’s reports. He is the author of PIRA's 2012 multi-client study, "Tilting the Balances: A Comprehensive Look at Energy in China through 2025." From 1998 to 2006, he was an LNG/natural gas consultant at Poten & Partners, where he advised clients from Asia, Europe and the Americas on pricing, demand, and price risk management. Mickey has a BBA in Finance from Baruch College.
Dr. Mark Schwartz (President / Managing Director, Scenario Planning Group) was formerly Chief Economist of ExxonMobil where he was responsible for developing the company’s long-range economic and energy outlook. Dr. Schwartz designed and managed the implementation of the energy modeling system and database that allowed ExxonMobil to develop their base-case global energy outlook as well as alternative cases to capture the impact of changes in price, economic growth, environmental policy and other critical assumptions. Prior to this position, Mark spent five years in Exxon’s International Gas Marketing Company, where he developed the Asian gas supply/demand balance and led several multi-company studies of China’s gas pipeline and LNG options. During his 25 years at Exxon he also had assignments in Upstream Planning, Treasurers, and Corporate Planning functions. He holds a PhD in economics from the University of Pennsylvania.
The Global LNG Retainer Service can be purchased on its own or, at a discount, as an add-on for clients to PIRA’s Global Oil Retainer, North American Natural Gas Retainer, or European Natural Gas Retainer services. The extent of the discount depends on the client's current package. For options and fees, please contact your PIRA sales representative.