LNG

Nov 10 (LNGJ) - Four cargoes are heading for the European Union in the next couple of weeks from Qatar, Trinidad and the US. The Qatari Q-Flex vessel “Al Karaana” with 205,990 cubic metres capacity will berth at Zeebrugge on November 15 with volumes from Ras Laffan lifted on October 29. The “BW Cassia” with 170,8000 cubic metres capacity will discharge a Trinidad cargo on November 15 at the Eemshaven terminal in Groningen, according to shipping data. The volumes were lifted on October 29 from the Caribbean plant at Point Fortin.

   The carrier “Isabella” with 174,130 cubic metres of capacity is scheduled to discharge a US cargo on November 19 at the Dutch Gate terminal in Rotterdam. The cargo was lifted on November 7 from the Sabine Pass plant in Louisiana. Germany will receive a cargo on November 23 at the North Sea port of Wilhelmshaven on board the carrier “Adriano Knutsen” with 179,980 cubic metres of capacity. The volumes were loaded on November 7 at the Corpus Christi plant in Texas.

Pressure on European and global natural gas markets has eased since the beginning of 2023 due to favourable weather conditions and policy actions discouraging gas use, though several factors point to possible supply risks in the fourth quarter.

By the end of first quarter of 2023 European hub and Asian spot liquefied natural gas prices had fallen below their summer 2021 levels but they remained well above their historic averages, according to the May gas report from the International Energy Agency.

It noted that the steep decline in natural gas demand reduced the need for storage withdrawals in Europe and the United States over the 2022-2023 winter.

As a result, storage sites closed the heating season with inventory levels standing well above their five-year averages.

“This is expected to reduce injection demand during the summer of 2023, and potentially ease market fundamentals,” stated the Paris-based IEA.

“However, the improved outlook for gas markets in 2023 is no guarantee against future volatility and should not be a distraction from measures to mitigate potential risks,” added the report.

Tight supplies

“Global gas supply is set to remain tight in 2023 and the global balance is subject to an unusually wide range of uncertainties. These include adverse weather factors, such as a dry summer or a cold fourth quarter and lower availability of LNG,” added the report.

The IEA explained that while the share of OECD Europe’s gas demand met by Russian pipeline gas fell to well below 10 percent in the 2022-2023 heating season, LNG effectively became a baseload supply for Europe, meeting over one-third of the region’s gas demand over the winter.

Russian piped gas exports to OECD Europe fell by an estimated 70 percent (or 50 Bcm) year-on-year during the winter.

While deliveries to Turkey declined by close to 30 percent, gas flows to the European Union plummeted by over 80 percent, translating into a drop of 47 Bcm compared to the previous heating season.

In contrast, Russia’s LNG exports to the EU rose by 5 percent compared with the previous winter period.

LNG flows from the United States increased by 30 percent, or almost 10 Bcm year-on-year, to account for over 45 percent of incremental LNG supply into Europe.

“This further reinforced the position of the United States as Europe’s largest supplier, accounting for over 40 percent of the region’s total LNG imports and meeting almost 15 percent of its gas demand,” said the IEA.

“Qatar increased its gas deliveries by 15 percent (or 1.5 Bcm), primarily supported by higher supplies to Belgium, France, Italy and Poland,” added the report.

European Union liquefied natural gas prices dropped again as EU storage builds hit their highest level of the season so far as milder weather swept across the continent and gas demand declined along with pipeline gas flows from Norway, while LNG cargo deliveries toNorth Asia were steady.

March 23 (LNGJ) - Two Russian LNG cargoes are headed for Belgium in the next week and two US shipments are scheduled for delivery to the Netherlands, according to shipping data. The tanker “Nikolay Yevgenov” with 172,600 cubic metres of capacity is due to berth at the Belgian import terminal at Zeebrugge on March 25 with a Yamal cargo lifted on March 17. A second delivery is due from the Russian export plant at Sabetta on March 28 on board the 172,000 cubic metres capacity carrier “Yakov Gakkel”.

   Deliveries to the Netherlands from the US will include a shipment from the Cameron plant in Louisiana scheduled to be delivered to the Eemshaven facility on March 24 by the “Marvel Pelican” carrier with 155,000 cubic metres capacity. Another US cargo is due for delivery on March 30 to the Gate terminal in Rotterdam by the 174,000 cubic metres capacity vessel “LNG Endeavour” and lifted on March 18 from the Freeport plant in Texas.

Adriatic LNG, the company operating the biggest LNG regasification terminal in Italy offshore the northeast coast, has launched the accreditation phase for its Open Season 2022 for European and international operators.

European Union liquefied natural gas prices remained strong and attracted cargoes amid unprecedent summer demand underpinned by global oil prices, while Asian spot LNG cargo values settled lower as a rebound was awaited in imports by China and India.

June 10 (LNG) – The European natural gas and LNG benchmark price, the Dutch Title Transfer Facility, increased to a 2021 high of just over $10 per million British thermal units on June 10 as cargoes headed for European Union ports from Qatar and Russia. The 177,000 cubic metres capacity carrier “Eduard Toll” was scheduled to deliver a cargo to Rotterdam on June 12 from the Yamal plant in Russia, while the 173,400 cubic metres capacity “Ribera Del Duero Knutsen” was due to discharge a shipment from Qatargas on June 17 at the Bilbao terminal in northwest Spain, according to shipping data.