Oil and LNG rise
March 8 (LNGJ) - North Sea Brent front-month crude oil prices surged to over $70 per barrel, up from $67.30 per barrel at the end of last week. It is the highest oil price since early January 2020 and follows reported drone attacks on oil facilities in Saudi Arabia, blamed on Iran-backed Yemeni militia. The oil surge took the effective oil-linked, long-term LNG contract price to over $10 per million British thermal units.
European natural gas prices also increased with the UK National Balancing Point and the continental European Dutch Tittle Transfer facility (TTF) both hitting the equivalent of $5.70 per MMBtu, up from $5.55 per MMBtu on March 5. The Japan-Korea Marker price for April spot LNG cargoes was around $6.00 per MMBtu, according to trading platforms.
October shipments
Sept 28 (LNGJ) - As Asian and European natural gas prices and LNG values recover for the impending winter season, scores of October cargoes were en route to a variety of destinations. Among them, the 216,000 cubic metres capacity carrier “Al Thumama” is scheduled to deliver a cargo on October 3 to the Dahej terminal in India from Ras Laffan in Qatar. The 217,000 cubic metres capacity vessel “Al Shamal” will unload a Qatargas shipment on October 5 at the Map Ta Phut terminal in Thailand. Asian spot LNG cargo prices were last quoted for November at $4.975 per million British thermal units.
In European deliveries, the 160,000 cubic metres capacity “Arctic Aurora” will berth on October 7 at the Klaipeda facility on the Baltic Coast of Lithuania with a shipment from the US Freeport plant in Texas. The 155,000 cubic metres capacity carrier “British Sapphire” is scheduled to discharge a cargo on October 7 at the UK Isle of Grain terminal in Kent from the Trinidad plant at Point Fortin in the Caribbean. The UK National Balancing Point price was last at the equivalent of $4.10 per MMBtu.
