LNG

Answering accusations of sanctions busting by some NGOs, Dynagas LNG Partners has explained that one of its charterers, Singapore-based Yamal Trade, employs two LNGCs, ‘Yenisei River’ and ’Lena River’, on long-term charters, which extend to 2033 and 2034, respectively.

Malaysia’s MISC has committed three more LNGs to Bangladesh recyclers, broking sources said.

The ‘Puteri Mutiara Satu’ (28,804 ldt), ‘Puteri Zamrud Satu’ (28,858 ldt), and ‘Puteri Firu Satu’ (28,805 ldt) were all reported sold for over $11 mill each, on the basis of ‘as is’ Malaysia delivery.

They were built in 2004/2005 and are of 137,500 cu m capacity each.

In addition, the 1995-built LNGC ‘Lima’ was reported to have been delivered to Chattogram recyclers on 8^th March.

US LNG plant developer, Argent LNG has formally submitted its long‑term export application to the US Department of Energy (DOE) for authorisation to export up to 25 mill tonnes per annum of LNG to both FTA and non‑FTA markets from its planned Port Fourchon export terminal in Louisiana.

LNG plant developer, MidOcean Energy, formed and managed by US investment giant,  EIG, has signed definitive agreements with Japanese utility major, JERA to acquire JERA Gorgon, which holds JERA’s 0.417% interest in Australia’s Gorgon LNG project.  

The Middle East situation is much of same, as the world’s stock markets continued to fall and energy prices escalate.

Some 36 LNGCs left US ports in the week ending 11th March, a drop of three vessels from the previous week.

Their carrying capacity was 133 bill cu ft, down 15 bill week-on-week.

Ten vessels departed from Sabine Pass, seven from Plaquemines, six from Corpus Christi, four each from Cameron and Freeport, three from Calcasieu Pass, and two from Elba Island, according to data supplied to the US Energy Information Administration (EIA) by Bloomberg Finance.

Bangladesh has secured several LNG cargoes from the spot market at elevated prices, as it seeks to stabilise domestic energy supplies amid disruptions linked to the ongoing conflict in the Middle East, local media reported.

US LNG accounted for 33.8% ‌of Spain's total gas imports in ‌February.

Additional measures are needed to be able to cover potential gas shortages in the Netherlands and wider Europe caused by a months-long gas supply disruption, according to Dutch energy company’s Gasunie’s subsidiary, GTS.

LNG stockpiles held by major Japanese utilities were down by 3% to 2.12 mill tonnes in the week to 8^th March, data from the Ministry of Economy, Trade and Industry showed.

The stockpiles were in line with the same period a year ago and up from 2 mill tonnes on average for this time of the year over the last five years, according to the data. In the previous week, LNG stockpiles amounted to 2.19 mill tonnes.

Japan gets around 6% of its LNG supplies via the Strait of Hormuz, which is blocked due to the US and Israel war with Iran.

Overall, Japan holds just under 4 mill tonnes of LNG in inventories, METI said, equal to around one year of supplies shipped through the Strait of Hormuz.

As the demand for electricity and gas in Japan is expected to be relatively low in the coming months, due to seasonal factors, METI does not see immediate risks to the stable supply of gas and electricity as of now, Kenji Yamada, METI’s State Minister, said.