LNG

March 25 (LNGJ) - The UK is scheduled to receive a US LNG cargo on March 27 as prices remain solid at the end of the winter season at around the equivalent of $8.720 per million British thermal units on the National Balancing Point market. Spot natural gas prices on the European Energy Exchange also rose. The Dutch TTF day-ahead spot price was at the equivalent of $8.740 per MMBtu.

   The cargo heading for the UK South Hook terminal in Milford Haven in Wales is onboard the vessel “Lech Kaczynski” with 174,000 cubic metres capacity. The shipment was loaded on March 13 at the Cameron export plant in Louisiana.

European and Asian liquefied natural gas prices rebounded from three-year lows as cooler weather and the return of government energy policy uncertainties offset high global storage levels and concerns over trade route insecurity.

Intercontinental Exchange Inc., the leading global provider of energy trading platforms, said that global futures and options markets reached record open interest of 87.2 million contracts during late January 2024.

European spot natural gas prices followed futures prices lower to marks last seen in June 2021 just before energy security concerns entered the market and at least seven liquefied natural gas cargoes were heading for the UK even as the differentials widened in favour of Asian spot cargo values.

Global liquefied natural gas prices declined for a third week as European Union supply was helped by peak storage levels and mild weather, while the start of winter in parts of China coincided with further restrictions on Panama Canal transits and along with narrow price margins will limit arbitrage opportunities.

European and Asian wholesale natural gas and LNG prices edged higher on the week, propelled by security concerns and conflict in the East Mediterranean even as Northwest Europe’s weather was mild for the time of year and gas storage was still at record levels.

Oct 17 (LNGJ) - The UK is scheduled to receive an LNG delivery this weekend from Peru as values moderated slightly on the UK National Balancing Point gas market. Prices were at around the equivalent of $14.750 per million British thermal units while the North Asian spot LNG cargo price rose as the Japan-Korea Marker price moved to front-month December and was initailly quoted at $17.385 per MMBtu.

   The Hong Kong-flagged carrier “Pan Asia” with 174,000 cubic metres of capacity was scheduled to discharge a cargo on October 21 at the UK Dragon LNG terminal at the Port of Milford Haven. The cargo was lifted on September 17 from the Pacific port of Pampa Melchorita.

Intercontinental Exchange, the leading global provider of energy trading platforms for futures and options, has announced a record third-quarter for the European benchmark Dutch Title Transfer Facility (TTF) with a record 18.7 million TTF futures and options traded.

European benchmark natural gas prices dropped on the week as natural gas storage levels almost peaked in the European Union while North Asian front-month LNG spot cargo prices edged higher as more demand was expected in the weeks ahead.

Global natural gas and LNG prices were largely unaffected by Russia’s political and military unrest over the weekend as Russian oil and natural gas values have already been largely discounted by sanctions and the shutdown of the Nord Stream gas pipelines to Europe.