lng tanker offloading cargo

Reload of LNG Cargo Canceled at Spanish Port, Upcoming Shipments Appear on Track

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July 27, 2012

Image courtesy Enagas

(Bloomberg) — A cargo of liquefied natural gas due to reload at an import terminal in Spain next week has been canceled, said Enagas SA, 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.

– Ben Farey, Copyright 2012 Bloomberg
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