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Atlantic LNG Prices Jump on Freeport Outage: Platts

LNG

Supply concerns jolted Atlantic LNG prices yesterday as the market shows concern on the outage at Freeport LNG and attacks in Ukraine, Platts said.

  • NWE LNG prices rose to their highest level since Jan. 12 at $9.044/MMBtu, up 67.9 cents/MMBtu on the day, according to Platts assessments. FOB Gulf Coast cargoes rose to their highest since Jan. 5 at $8.42/MMBtu.
  • The rise followed news of the outage at Freeport LNG, after train 3 tripped on April 10. The outage lasted until mid-afternoon April 10, pushing feedgas down to 179 MMcf/d April 11, Platts said.
  • Russian strikes on two Ukrainian underground gas storage sites also spooked gas and LNG markets.
  • The facilities are not expected to be significant for Europe as a whole, but strikes on infrastructure create a concern for the market.
  • Ukraine is trying to boost storage use by European utilities in its western Lviv Oblast, where the strikes took place.
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