European LNG Tanker Build Up Unwinds

Two months after arriving in the Mediterranean, the LNG vessel Energy Glory has delivered its cargo into Barcelona according to ICIS.

• This was the longest-waiting LNG tanker left offshore Europe.
• The Tokyo Gas-chartered vessel originally loaded from US Cove Point in mid-November and arrived in the Med at the end of November.
• It then spent two months circling around before delivering to Barcelona on 26 January.
• In the early months of the winter quite a large number of LNG tankers built up outside Europe's coast as mild weather reduced gas demand. The floating storage has now largely unwound.
• The vessels remaining have largely only been there now for a few days.