A roundup of news and commentary from NGI’s LNG Insight

  • The Ever Given was still stuck in the Suez Canal on Friday afternoon after running aground Tuesday. About 10 tugboats, two dredger vessels and additional machinery and equipment on the banks are working to refloat the massive container ship, according to shipping services firm Leth Agencies
  • Higher tides are expected this weekend, which could help the operations. But various estimates now suggest dislodging the ship could take until at least Wednesday. 
  • About four LNG vessels were still waiting Friday to transit the canal. Qatar’s Al Mayfar and Al Samriya tankers have adjusted their course and now appear to be headed for a longer route toward the Cape of Good Hope to bypass congestion and deliver LNG cargoes to Europe next month, according to research firm Kpler
  • At least one U.S. LNG cargo carried by the Pan Americas was potentially rerouted for the Cape of Good Hope in the North Atlantic on Thursday, Wood Mackenzie said.
  • European natural gas futures were up Friday as delays persisted. Brent crude also climbed and spot LNG prices remained steady below $7.00/MMBtu. Schneider Electric analysts said the global gas market is seen well supplied for now with minimal disruptions expected unless delays persist.