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NATGAS: UK Remains Strong Pull for LNG Diversions

NATGAS
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U.S. LNG cargo Cool Rider was signalling for Salvador, Brazil for November 24 but is now signalling for UK Milford Haven for 13 December according to ICIS vessel tracking.

  • The UK is set to receive its highest LNG volumes since February as it becomes the preferred destination for diverted LNG cargoes due to slot availability vs NWE ports according to Platts vessel tracking.
  • The NBP front month contract has maintained a strong premium to Dutch TTF in November, amid stronger demand, a tight LNG market and a drop in domestic production.
  • A significant proportion of the LNG vessels headed for the UK this month are diversions. See chart for Front Month NBP vs Front Month TTF highlighting November NBP premium.

 

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U.S. LNG cargo Cool Rider was signalling for Salvador, Brazil for November 24 but is now signalling for UK Milford Haven for 13 December according to ICIS vessel tracking.

  • The UK is set to receive its highest LNG volumes since February as it becomes the preferred destination for diverted LNG cargoes due to slot availability vs NWE ports according to Platts vessel tracking.
  • The NBP front month contract has maintained a strong premium to Dutch TTF in November, amid stronger demand, a tight LNG market and a drop in domestic production.
  • A significant proportion of the LNG vessels headed for the UK this month are diversions. See chart for Front Month NBP vs Front Month TTF highlighting November NBP premium.

 

Keep reading...Show less