A roundup of news and commentary from NGI’s LNG Insight
- There were 29 laden LNG vessels floating worldwide on Wednesday, according to ClipperData, shy of a record 32 floating vessels in June. About 20 laden vessels had been floating for three to seven days, eight had been floating for 10-23 days, and one vessel for 25 days.
- Total SA said its average LNG sales price declined to $4.40/MMBtu in the second quarter as commodity prices faced continued pressure amid the pandemic, down from a 1Q2020 price of $6.32. Total said spot sales increased in 2Q2020 compared to 1Q2020 because of deferments of some LNG uplifts by long-term buyers, while the average long-term contract price was reduced by 16%.
- Tudor, Pickering, Holt & Co. said flexible U.S. LNG contracts contributed to 63% of global supply reduction in June, with notable maintenance-driven contributions from Australia and Russia, “placing the burden of rebalancing” the global gas market “squarely on America’s shoulders.”
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