LNG

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.

July 5 (LNGJ) - The fourth Qatari LNG cargo of July was heading for the UK as the natural gas price on the National Balancing Point hit its highest level for over three months, rising to the equivalent of $34.20 per million British thermal units on short-term Norwegian pipeline gas supply concerns because of a strike at offshore fields.

   The 206,960 cubic metres capacity Q-Flex carrier “Al Aamriya” is scheduled to discharge a shipment on July 12 at the UK South Hook terminal at Milford Haven after lifting the cargo on June 17 from the Ras Laffan plant in the Arabian Gulf, according to shipping data.

Liftings of liquefied natural gas cargoes were buoyant during December with 438 shipments departing so far from liquefaction plants worldwide as North Sea Brent crude stayed firm, raising long-term LNG values, while North Asia spot prices were at just over $11.00 per million British thermal units for February deliveries.

Sept 21 (LNGJ) – LNG cargoes are heading for the UK and Spain with prevailing regional natural gas prices at the equivalent of around $3.95 per million British thermal units. The 266,000 cubic metres capacity Q-Max carrier “Mozah” is scheduled to discharge a cargo on September 26 at the UK South Hook terminal in Milford Haven in Wales from Ras Laffan in Qatar. The 210,100 cubic metres capacity Q-Flex carrier “Al Sheehanyia” was unloading a Qatargas shipment at the Isle of Grain terminal on the Medway-Thames estuary southeast of London, according to shipping data.

   The 155,900 cubic metres capacity carrier “Clean Ocean” is scheduled to deliver a cargo on September 25 to the Cartagena terminal in southeast Spain from the Russian Yamal plant at Sabetta in Siberia. The 162,000 cubic metres capacity vessel “Adam LNG” was expected to berth on September 29 at the Bilbao terminal in northwest Spain on arriving from the Caribbean plant at Point Fortin in Trinidad.

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. 

Feb 5 (LNGJ) - Two more LNG cargoes are heading for Milford Haven port in the UK. The 160,000 cubic metres capacity vessel “Golar Kelvin” is scheduled to unload US shipment on February 10 at the Dragon terminal in Milford Haven in Wales from Freeport LNG in Texas, according to shipping data. The 210,185  cubic metres capacity carrier “Al Bahiya” will then deliver a cargo on February 12 to the UK South Hook terminal in Milford Haven from Ras Laffan in Qatar.

   Cargoes are heading for the UK and other European destinations amid record low winter season prices. The UK National Balancing Point price was last at around $3.05 per million British thermal units and the main price on Continental Europe, the Dutch Title Transfer Facility (TTF), was at the equivalent of $3.00 per MMBtu.

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. 

While North Sea Brent crude prices rose to their highest level since September 2019, global LNG and natural gas prices were at record low levels for the Northern Hemisphere winter season because of the glut of supplies and spot charter shipping rates were also well down.

Qatargas, the world’s largest liquefied natural gas production company, has delivered the first cargo of LNG on a Q-Max vessel to the Belgian import and regasification terminal at Zeebrugge even though the facility has been operational for 32 years.