LNG

A ceremony was recently held in Pointe Noire to mark the first LNG cargo from the ‘Nguya’ FLNG.

Asian spot LNG prices fell last week from a nine-week high and ‍a three-week hike, as mild weather and healthy storage weighed on demand.

Trinidad and Tobago LNG producer Atlantic LNG plans to shut its 6 mill tonne per annum Train 4 for up to 50 days in May and June for extensive maintenance and repairs, according to sources talking with newswires.

Global LNG freight rates remained relatively steady last week, with Atlantic rates assessed at $11,500 per day, and Pacific rates at $29,250 per day, Sparks Commodities analyst, Qasim Afghan said.

The US front-month arbitrage to northeast Asia via the Cape of Good Hope narrowed but still pointed US prompt cargoes to Europe, Afghan added.

West African neighbours, Equatorial Guinea and Cameroon have signed an operating agreement for the extraction of gas from the Yoyo-Yolanda gas reserves.

Japanese shipping major, NYK Line, in partnership with Oslo-based investor, Ocean Yield, has signed multiple long-term charter contracts for newbuilding LNGCs with Cheniere Marketing International, a subsidiary of Houston-based Cheniere Energy.

Some 35 LNGCs sailed from US export terminals during the week, totalling 134 bill cu ft in total capacity during the week ending 4^th February, a rise of four week-on-week.

Nine departed from Sabine Pass, seven from Corpus Christi, five each from Freeport and Plaquemines, four each from Calcasieu Pass and Cameron, and one from Cove Point, according to data supplied by Bloomberg Finance to the US Energy Information Administration (EIA).

The global LNG market is expected to stay finely balanced this year.

Commodity trader Trafigura’s head claimed that he wasn’t worried about Europe's growing dependence on US LNG, as buyers' had the flexibility to source supplies from elsewhere, if needed.

European buyers are aggressively importing Russia’s Yamal LNG, as the continent prepares for a full EU ban on Russian LNG from January, 2027, new figures compiled by German-based advocacy group Urgewald from Kpler’s data revealed.