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Weekly Summary

LNG: Aug 23-27: Kyushu Electric sells Australian term cargo

--DES Northeast Asia

 Kyushu Electric Power sold a cargo from the 8.90 mil mt/year Wheatstone project in Australia for Oct 21-25 delivery to Northeast Asia at a premium to DES Northeast Asia spot quotations via a tender closed on Tuesday. As reported, Kyushu Electric Power's nuclear power plants including the 1,180MW No.3 unit at the Genkai nuclear power plant were operating smoothly while power demand was not high due to a long spell of rain and its reliance on gas-fired thermal power generation fell. As result, Kyushu Electric Power seemed to have surplus term cargoes of LNG.

 

--FOB Middle East, DES South Asia, South east Asia and the Middle East

 Troubles occurred at some facilities of the No.1 liquefaction train at the 10.50 mil m/year Oman project in middle of August and Oman LNG was conducting repair works. Shipments from the project were halted after the 173,400cbm DFDE tanker "Woodside Chaney" loaded a cargo on Aug 21. The 5.25 mil mt/year No.2 train continued to operate but supply volumes were significantly reduced. A Japanese company said that the problem at the No.1 train might be prolonged and several vessels were currently waiting off the coast of the project to load.

 

--FOB Atlantic, DES Europe and South America

 The 22.30 mil mt/year Bonny Island project operated by Nigeria LNG (NLNG) was constantly supplying cargoes without troubles. This year, around 20 cargoes were shipped per month. The 148,300cbm conventional tanker "LNG Ondo" lifted a cargo on Wednesday and was heading to the 5.60 mil mt/year Sines terminal in Portugal.

 

Tokyo : LNG Team  Yanagi   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.