A roundup of news and commentary from NGI’s LNG Insight
- SK Resolute has changed directions twice, according to ClipperData. Ship departed Cameron LNG for China March 22, the first North American cargo to do so since early 2019. Vessel was last headed for Taiwan and now bound for Cape of Good Hope, a longer route toward Northeast Asia.
- “We believe the vessel is still trying to find a buyer,” ClipperData said. Total SA is the shipper.
- Kpler: European imports hit “all-time high” in March of 7.68 million tons, “signaling limited room to absorb excess cargoes off the market,” which has been strained by pandemic.
- Rystad Energy revised 2020 global gas price outlook lower on Covid-19 outbreak. Henry Hub average now seen at $1.94/MMBtu; Japan Korea Marker spot at $3.80; oil-indexed prices at $7.45/MMBtu; Title Transfer Facility average at $3.20.
- Venture Global LNG Inc. announces successful string test of Calcasieu Pass mixed refrigerant compression system at Baker Hughes Co.’s Italian testing facility. Test proves engineering, functionality and performance of the 10 million metric ton/year project seven months after sanctioning.