UK LNG Imports Rise On French Strikes Diverting Vessels

UK LNG import volumes could rise by more than 50% this month to a three-month high as vessels are diverted away from strike-hit French terminals, analysts said.

• LNG imports were provisionally seen amounting to 2.38m tonnes (3.2bcm), the highest since December, when deliveries reached an 11-month high of 2.39m tonnes, according to Kpler estimates.
• The majority of vessels were arriving from the US at 1.49mn tonnes, followed by Nigeria, Angola and Trinidad.
• “This makes sense, given that a substantial portion of the LNG supply diverted away from French terminals shut by the strikes is being unloaded at UK terminals instead,” said Energy Aspects LNG analyst Leo Kabouche.
• “With the strikes at the Elengy terminals extended until 28 March, stronger LNG sendout from the UK will persist until the end of the month at least,” he added.
• More than 1m tonnes of LNG had been delivered to the UK so far this month, Robert Songer, LNG analyst at ICIS, said.
• “Factoring in vessels yet to arrive, it takes this to more than 2.25m tonnes,” he added.
• Wayne Bryan, head of gas analysis at Refinitiv, forecast March arrivals at around 95mcm/day, which equates to around 2.2m tonnes.
• Industrial action at Elengy’s three LNG imports has been extended until 28 March, while strikes at the Dunkerque LNG terminal will reduce delivery capacity to 70 GWh/d on 23-24 March, down from 520 GWh/d.