LNG

Natural gas wholesale futures prices in Europe broke records for a second day in a market of contrasts as sky-high prices for spot LNG carrier charters have finally crashed for both the East of Suez and West of Suez markets and by up to $70,000 per day.

Around 104 LNG shipments were being lifted this week versus 102 last week at global liquefaction plants as the US saw 16 cargoes departing from its facilities and the North Asia spot LNG price moved closer to the $7.00 mark for December shipments.

July 13 (LNGJ) - The 266,000 cubic metres capacity Q-Max carrier, “Umm Slal”, is scheduled to deliver a cargo on July 19 to the UK South Hook terminal in Milford Haven from Ras Laffan in Qatar, according to port authorities. That’s as European LNG values have dropped since last week. The UK’s National Balancing Point natural gas price was last at the equivalent of $1.75 per million British thermal units while the main Continental European benchmark price, the Dutch Title Transfer Facility, was at the equivalent of $1.80 per MMBtu.

   In other European deliveries, the 142,600 cubic metres capacity “LNG River Niger” was scheduled to discharge a shipment on July 19 at the Montoir-de-Bretagne terminal in Western France from the Bonny Island plant in Nigeria. The 140,000 cubic metres capacity “Arctic Voyager” was expected to unload a cargo on July 26 at the Revithoussa terminal in Greece from the Hammerfest plant in Norway.