LNG

Cargo liftings fell slightly at export plants worldwide, though North Asia prices were still substantially higher than those in Europe and US Gulf Coast futures held up amid adequate future demand forecasts.

Production plants for liquefied natural gas are loading fewer cargoes this week as North Asia spot prices are well down on recent record levels, though shipments from March onwards are at higher prices than a week ago.

France's Entrepose Contracting, a unit of Vinci Construction Grands Projets and the UK’s Taylor Woodrow, has been awarded an engineering, procurement and construction contract by the UK’s National Grid to build a liquefied natural gas storage tank to serve the import terminal for London.

More than 90 liquefied natural gas shipments were being lifted this week at global liquefaction plants as the US saw 12 cargoes departing from its facilities and the North Asia spot LNG price moved above the $6.00 mark, while European natural gas benchmarks were firm at around $5.15 per MMBtu.

UK and Continental European natural gas prices and US Gulf Coast LNG futures have jumped to summer season highs, while US domestic natural gas prices have been boosted by a forecast July heatwave to boost cooling demand.

Dec 12 (LNGJ) - Skangas, the Nordic LNG operator and supplier, signed a preliminary accord with the UK National Grid and its Isle of Grain LNG import terminal to acquire supplies to be loaded onto small-scale carriers at the facility, located on the Medway River southeast of London. “Grain LNG, which operates primarily as a large-scale import terminal, is firmly committed to developing an LNG break-bulk marine facility to make it possible for small vessels to reload and bunker LNG,” said Skangas. The UK facility is set to offer small-scale ship reloading at its terminal in Kent. “We believe the best way to encourage growth in the market is to offer competitive alternatives which ensure security of supply for small-scale participants” said Nicola Duffin, Commercial Manager at Grain LNG.