A Norwegian consortium of technology developers has announced plans for a pilot project to develop flexible fuel cells, capable of running on LNG. LNG Journal’s fuelling editor Malcolm Ramsay reports
Exmar’s Tango FLNG barge left its mooring at Bahia Blanca in Argentina on Monday afternoon, our data shows. In our view, this marks the preliminary end of Argentina’s ambitions as an LNG exporter. During its employ, Tango was an important cash generator for both Argentine energy champion YPF and Tango’s Belgian owner and operator Exmar. Argentina has been hit hard by COVID-19 whilst domestic winter demand growth restricted Tango’s feedgas supply.
Our data suggests Egypt’s Idku LNG shipped a rare cargo on Monday, which would mark another welcome break to the plant’s protracted market absence. However, our market visibility still does not suggest a return to regular exports from Idku LNG although spot prices are firming up. Meanwhile, Egypt’s other LNG plant – Damietta LNG – is also slated to remain offline after a deal to restart the plant fell through in April.
September LNG trade continues to improve on Asian and some European demand
China’s domestic LNG prices saw a rally of more than 14% since September, with the average terminal capacity utilisation in the high 80s in October to date. By contrast, capacity utilisation stood at only 59% this time last year. Nevertheless, our current market visibility suggests lower Chinese LNG imports week-on-week.