LNG

July 3 (LNGJ) - Supplies of regasified LNG delivered from the European network of import terminals to the European Union’s gas pipelines system declined by 14.2 percent in the first six months of 2024 compared with the same period last year to around 58.5 billion cubic metres.

   The delivered volumes also dropped by 32 percent in June compared with May 2024. According to gas industry data LNG imports have provided 36 percent of Europe’s natural gas needs this year so far up until the end of June.

June 19 (LNGJ) – A steady number of laden LNG carriers are heading for Europe from Qatar. They include the 210,100 cubic metres capacity Q-Flex carrier “Al Ruwais”, which lifted a cargo on May 19 from the Ras Laffan plant in Qatar and would be arriving off Gibraltar on June 20 to await orders, according to shipping data.

   Another shipment departed from Ras Laffan on May 23 on the “Celsius Gandhinagar”, a vessel with 180,000 cubic metres capacity, and was scheduled to berth at the Belgian terminal in Zeebrugge on June 23.

The US Freeport LNG export plant on Quintana Island in Texas has announced scheduled shut-downs of its liquefaction Trains for repairs and maintenance and de-bottlenecking to  boost output in the future.

Jan 29 (LNGJ) – Deliveries are continuing to flow in the first half of February for European import terminals in Belgium, the UK and the Netherlands. The “Maran Gas Troy” with 159,000 cubic metres capacity is due to deliver a US cargo on February 4 to the Zeebrugge import terminal in Belgium, according to shipping data. The cargo was lifted on January 18 from the Sabine Pass plant in Louisiana.

   The “Rias Baixas Knutsen” with 180,000 cubic metres capacity is scheduled to discharge a US LNG cargo on February 6 at the UK Isle of Grain terminal located southeast of London. The shipment was loaded on January 22 at the Corpus Christi facility in Texas. The “BW Pavilion Aranda” with 173,400 cubic metres capacity will deliver a US cargo on February 11 to the Dutch Gate terminal in Rotterdam. The shipment was lifted on January 27 from the Sabine Pass plant.

European natural gas prices have failed to be influenced by continuing attacks on shipping in the Red Sea in 2024 as weak fundamentals push natural gas price forecasts lower amid soft demand and record storage.

European liquefied natural gas prices rebounded for the week after four straight weeks of declines with the wholesale market price defying milder weather conditions, high storage and the most optimum spell this winter for the use of wind power while North Asian spot cargo prices also edged higher.

The world’s largest sovereign wealth fund belonging to Norway, the main pipeline natural gas supplier to the European Union and an LNG producer, reported a loss of almost $34 billion in the third quarter as all asset classes fell in value.

European liquefied natural gas cargo and wholesale gas futures prices rebounded while North Asian LNG spot prices also gained as a cloud of uncertainty hung over demand dynamics in the months ahead even as European Union gas storage was almost full.

The former BP Statistical Review of World Energy was handed over this week for its 72nd edition to the UK-based Energy Institute (EI), the chartered body for the energy industry and which will be the new custodian of the Review carrying the latest data from LNG to coal and renewables.

The European Commission said it was again pursuing plans to end Russian liquefied natural gas supplies being sold in the European Union and has asked the 27 member states not to sign any new supply contracts.