LNG

Asian liquefied natural gas prices and European cargo values increased for a second week from previous three-year lows as cooler weather and energy policy uncertainties offset high storage as the Northern Hemisphere winter gas season winds down after some of the warmest months on record hit demand.

European and North Asian liquefied natural gas cargo and wholesale gas futures prices declined for the winter season and were flat through September as regional gas storage hit record levels exactly a year after European Union prices soared over $62 per MMBtu when Russian pipeline gas supplies were severely disrupted.

Dec 5 (LNGJ) - Two LNG cargoes, one from Qatar and one from Peru, are heading for the UK with prices on the National Balancing Point natural gas market at around the winter season 2022 record level of the equivalent of $41.35 per million British thermal units.

   The 260,910 cubic metres capacity Q-Max carrier “Aamira” is scheduled to discharge a cargo from Qatar on December 9 at the South Hook terminal in Milford Haven. On the same day, a shipment is due onboard the 174,000 cubic metres capacity vessel “Minerva Chios” at the Dragon terminal in Milford Haven. That cargo was lifted on November 10 from the Pampa Melchorita export plant on the Pacific Coast of Peru.

Nov 28 (LNGJ) - UK natural gas prices have steadily risen this month to above the level of last year’s elevated prices. As LNG demand remains at record levels in the UK and Continental Europe, the 177,000 cubic metres capacity vessel “LNG Sakura” is scheduled to discharge a cargo on November 30 at the UK South Hook import terminal at Milford Haven in Wales.

   The vessel lifted the cargo on November 5 from the Sabine Pass plant in Louisiana, according to shipping data. The vessel's arrival coincides with a surge in UK wholesale natural gas prices for December to $34.85 million British thermal units compared with $31.65 per MMBtu exactly a year ago.

Sept 19 (LNG) – The UK continues to receive a steady stream of LNG shipments. The 174,000 cubic metres capacity carrier “Flex Rainbow” is scheduled to discharge a cargo from Nigeria on September 24 at the UK Dragon import terminal in the Port of Milford Haven in Wales, according to shipping data.

   The cargo, which was lifted from the Bonny Island plant on September 11, was heading for the UK with the National Balancing Point market price for wholesale natural gas at the equivalent of $33.20 per million British thermal units. The UK gas price exactly a year ago, long before the war in Ukraine, was $22.35 per MMBtu.

European and Asian LNG cargo prices and natural gas pipeline values remained high even as the Nord Stream I pipeline re-opened on schedule after maintenance, restoring the main Russian gas connection to the European Union, though failing to alleviate long-term gas market supply concerns.

May 24 (LNGJ) - Two LNG carriers are heading for the UK at the end of May as the National Balancing Point natural gas price dropped to a nine-month low at the equivalent of $17.00 per million British thermal units. The NBP had previously been just above that level on August 30, 2021.

   The 135,100 cubic metres capacity vessel “Bilbao Knutsen” is scheduled to discharge a cargo on May 30 at the UK Dragon terminal in the port of Milford Haven, according to shipping data. The shipment was lifted on April 20 from the Pampa Melchorita plant on the Pacific Coast of Peru. The 211,885 cubic metres capacity Q-Flex carrier “Al Kharsaah” is scheduled to deliver a shipment on May 31 to the South Hook terminal in Milford Haven. That cargo was lifted on May 9 from Qatar’s Ras Laffan export plant in the Arabian Gulf.

The United Kingdom is expected to receive about half a dozen cargoes of liquefied natural gas in the coming week, including three shipments from the US at the UK port of Milford Haven.

North Asian spot LNG cargo futures prices increased markedly for March and April deliveries while European benchmarks moved higher again as the Netherlands prepares to increase Groningen gas field output, while crude oil prices hit seven-week highs.

Jan 4 (LNGJ) - UK natural gas prices have declined from record levels, though are still substantial compared with previous years at around $23.00 per million British thermal units and are attracting US shipments. A cargo is scheduled to arrive on January 11 at the UK South Hook terminal at Milford Haven on board the 160,000 cubic metres capacity carrier “Cool Voyager”. The vessel lifted the cargo on December 24 at the Freeport plant on Quintana Island in Texas.