Europe has imported more than 9 MMT of LNG in April, mainly from the US; however the LNG flood is influenced by bottlenecks of the LNG imports handling capacities.
Europe has imported more than 9 MMT of LNG in April, mainly from the US; however the LNG flood is influenced by bottlenecks of the LNG imports handling capacities. European spot LNG imported cargoes are reportedly traded at $8-$9/MMBTU discounts over the continent’s northwest gas price benchmark TTF.
The LNG imports has been uneven across the region in a way that northwest Europe’s terminals are running close to their achievable capacity and cargoes continue to arrive while Spain the European largest LNG imports capacity holder has still excess capacity due to the lack of adequate intercontinental gas gateways.
European confusing and inconsistent policies have not only undermined the companies’ appetite for securing long-term LNG supplies also discouraged potential investors’ participations in the region’s energy imports, storage and interconnections infrastructures, said
Mostafa Sharif, Gas Market Senior Advisor.
“The handling capacity constrains caused increasing waiting costs for the LNG shipments while the available slot and regasification capacities holders are asking more than $5/MMBTU for discharging them.”
Last month, 174000-CM HK-flagged Pan Europe LNG vessel which was loaded at Atlantic LNG plant in Trinidad and initially supposed to unload her cargo at the Netherlands’ Gate terminal had to change her route to the Middle East because of impossibility of unloading after several days of wandering. Pan Europe had finally unload her cargo in Kuwait.
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