Oil prices rise as US LNG exports also increase while domestic demand and Mexican pipeline flows drop
Crude oil prices rose by around 2.5 percent and North Sea Brent moved towards the $42 per barrel level while an increase in weekly US liquefied natural gas exports was accompanied by drops in US domestic natural gas consumption and pipeline exports to Mexico.
UK’s Russian-US LNG
March 11 (LNGJ) - Russian and US LNG cargoes are heading for the UK. The 172,000 cubic metres capacity carrier “Nikolay Urventsev” will arrive at the UK Dragon import terminal at Milford Haven in Wales on March 13 with a shipment from the Russia Yamal plant at Sabetta in Northern Siberia. The 173,644 cubic metres capacity “British Contributor” is then due at the Dragon terminal on March 15 with a US cargo from the Freeport plant on Quintana Island in Texas.
The shipments are due as the UK National Balancing Point natural gas price has moved higher to $3.00 per million British thermal units, the same level as Continental Europe’s Dutch Title Transfer Facility (TTF) price.
UK February cargo
Jan 28 (LNGJ) - The first February cargo is heading for the UK South Hook LNG import terminal at Milford Haven in Wales. The shipment will arrive on February 3 on board Qatari Q-Max carrier “Al Ghuwairiya” with 261,700 cubic metres of capacity. Cargoes are heading for the UK and other European destinations even as record seasonally low prices prevail because of excess supplies. The UK National Balancing Point price was last at around $3.60 per million British thermal units and the main price on Continental Europe, the Dutch Title Transfer Facility (TTF), was at the equivalent of $3.40 per MMBtu.
