LNG

Nigerian deal with Portugal

Nigeria LNG has signed a deal with the trading arm of Portuguese company Galp Energia for one million tonnes per annum. The volumes will be supplied on a delivered ex-ship basis for 10 years from Trains 1, 2 and 3 of the six-Train facility on the on Bonny Island on the Niger Delta. The transaction follows a similar deal with Italy’s Eni and France’s Total announced in January and deal with commodity trader Vitol signed in December for 500,000 tonnes per annum. NLNG has been remarketing some volumes from its existing trains as some contracts approach expiry amid the Train 7 expansion plan.

Gasum to expand role

Gasum of Finland, the main Nordic LNG supplier and importer, said that in line with its growth strategy for LNG maritime and trucking fuel it was expanding its role in the Nordic power market by becoming a member of the Nordic power exchange of Nasdaq OMX. The membership provides Gasum with access to direct trading in the power derivatives market. “In recent years, Gasum has been investing purposefully in building the Nordic gas ecosystem.

Spot ship rates fall again

Shipping charter rates for LNG carriers in the spot market dropped further in the week as winter season deliveries slowed down, adding to the market glut. Rates were quoted at an average of between $63,000 per day to $67,000 per day West of Suez and $56,000 per day to $62,000 per day East of Suez for vessels of between 155,000-165,000 cubic metres capacity, according to various brokers.