A roundup of news and commentary from NGI’s LNG Insight
- European LNG imports were down 42% year/year over the last seven days, Tudor, Pickering, Holt & Co. said Wednesday. North Asian prices are pulling cargoes away from the continent, while warmer weather has dented demand. The forecast is growing chillier.
- Vitol has reportedly sold an LNG Cargo to Trafigura Group Pte. Ltd. for early February delivery to South Korea at a price of $13.55/MMBtu as Japan Korea Marker spot prices continue increasing on cold weather and a lack of supply in the region.
- Seven LNG cargoes are due to arrive in the UK between Dec. 22-30, “which could offset lower temperatures,” but high winds this weekend could disrupt unloading at docks, according to Engie EnergyScan.
- Pipe-laying work is expected to resume Jan. 15 on Gazprom’s Nord Stream 2 pipeline, according to the Danish Maritime Authority. The announcement marks the final stage of work on the 745-mile, 5.3 Bcf/d system that would run from Russia to Germany. U.S. sanctions have slowed the project.
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