Bloomberg News

Trader Cancels September Reload of Spain LNG Cargo, Enagas Says

July 27, 2012

A cargo of liquefied natural gas due to reload at an import terminal in Spain next week has been canceled, said Enagas SA (ENG), the country’s gas-network manager.

A vessel was due to load 130,000 cubic meters of the chilled fuel from storage tanks at the Huelva import terminal in southwest Spain from Aug. 2, data published last month on the Enagas website showed. An updated schedule issued today no longer includes the loading. Enagas didn’t provide the name of of the vessel or the charterer.

Two shipments of LNG are still due to be re-exported from Spain in August. An unidentified vessel is due to load 135,000 cubic meters from Aug. 12 and another ship will take 89,000 cubic meters of the fuel from Aug. 24, according to Enagas. A third tanker is slated to load 140,000 cubic meters of LNG in the nation in September.

The northeast Asian spot LNG price has fallen 24 percent from a three-year high on May 28 to $13.90 a million British thermal units this week, World Gas Intelligence said July 25. That means there’s less incentive for traders to reload cargoes and ship to markets in Asia.

To contact the reporter on this story: Ben Farey in London at bfarey@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus