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Laden LNG Vessels Waiting Off Europe Builds Into January

LNG

The number of LNG ships waiting around Europe has built back up a little since mid-December according to ICIS as a result of milder weather and high onshore inventories.

  • Stormy weather around the west coast of the UK is also delaying scheduled deliveries to the Dragon and South Hook terminals.
  • At the end of last week ICIS counted around 24 LNG cargoes that were near Europe without immediately delivering into port, up from around 18 in mid-December, but down from around 28 in late November.
  • Europe's onshore gas storage is currently high given last year's concerns, above the levels seen at the same time of year in most recent years, with only 2020 having been slightly ahead.
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