LNG

European and Asian natural gas market prices declined and shipping spot charter rates began to gather pace while there were fewer cargoes to lift this week from global export plants.

European natural gas and LNG prices dropped by another 9.5 percent on the week as gas storage levels were high in Europe and energy demand in North Asia was seen gaining to underpin the Japan-Korea Marker price for spot cargoes.

European wholesale natural gas prices and LNG values skyrocketed to record levels over $60 per million British thermal units on March 7 as the North Sea Brent crude oil price soared to over $139 a barrel after the US pushed for its allies to stop buying Russian oil over the Ukraine invasion.

Intercontinental Exchange, the leading global provider of trading platforms and clearing, said December and fourth-quarter average daily volumes of traded derivatives contracts surged for the European natural gas and LNG benchmark, the Dutch Title Transfer facility.

May 26 (LNGJ) - Two LNG cargoes are scheduled to arrive in the UK in the next week amid increasing natural gas prices, one at the Isle of Grain import terminal in Kent on May 27 from the Yamal plant in northern Russian and a second at the Welsh port of Milford Haven from Qatar. The Yamal cargo will arrive on board the “Nicolay Zubov”, a carrier with 172,000 cubic metres of capacity. The Qatari cargo, the first UK shipment of the month of June, will be delivered on June 2 by the 260,900 cubic meters cubic metres capacity Q-Max carrier “Bu Samra” to the South Hook facility at Milford Haven, according to the port authorities.

  The Russian and Qatari cargoes are scheduled as the UK National Balancing Point benchmark natural gas price rose to $9.35 per million British thermal units and the main Continental European price, the Dutch Title Transfer Facility (TTF), hit $9.50 per MMBtu on rising demand.

Demand for liquefied natural gas was high worldwide as liftings remain in the three-digit zone with spot cargo prices rising for North Asia and with European benchmark gas values offering Atlantic-Pacific competition.

Global liquefied natural gas plants dispatched a steady flow of cargoes as North Asia spot prices slipped on the week, though were offset by expectations of long-term LNG contract prices increasing after the North Sea Brent crude oil price hit its highest level in a year.

Global cargo liftings of liquefied natural gas declined after four weeks of increases, but North Asia spot LNG prices broke through the $10.00 per million British thermal units level and North Sea Brent crude cleared $51 a barrel amid concerns about future US energy policies, reflected in higher Gulf Coast LNG futures prices.

Dec 17 (LNG) - Two US LNG cargoes are heading for the UK in the next week with deliveries from Gulf Coast plants in Louisiana and Texas. The 170,000 cubic metres capacity vessel “Hoegh Gannet” is scheduled to arrive on December 22 at the South Hook import terminal in Milford Haven with a shipment from the Sabine Pass plant in Louisiana. This vessel acts as both a conventional carrier and a floating storage and regasification unit. It will be followed on December 24 by the 173,000 cubic metres capacity carrier “Torben Spirit” berthing to discharge a cargo at South Hook from the Corpus Christi export plant in Texas.

LNG cargo liftings were higher worldwide for a third straight week and North Asia spot LNG prices increased for January and February deliveries, but fell just short of the $7.000 per million British thermal units level before moving higher at the close.