Navigating the Waves: LNG Unloading Surges as European Gas Storages Decline

319

Natural gas storages in the EU registered net withdrawals and LNG cargoes floating near European shores started unloading in November. Some charterers decided to postpone sales of their LNG cargo as the cost of storage onboard was cheaper than sales or redirecting to another region.

Unloading Surge and Shifting Dynamics

Unloading of LNG peaked around European coasts in November in response to the first net withdrawals from EU’s stores in seven months. Total global floatings stood around 27 bcm down by some 1.4 for October with u s lngs accounting for much of it.

Market Response: Unwinding Floating Storage

Companies responded to an elevated NWE LNG price in November, by strategically unloading floaters in the European marketplace. This step broadened Northwest European LNG’s discount to the Dutch TTF.

Shipping Challenges and Future Outlook

Immediate effects of LNG unloading to alleviate the shortages in shipment traffic, however, were rather modest. The persisting shipping problems had been caused by route closures, high demand from Asia, and choke points. Despite this, the future appears cautious as floating storage unravels, with tight tonnage anticipated to be driven by reduced relets over the volatile winter traders month.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe

Source: S&P Global

3 COMMENTS

  1. I pay a quick visit each day some sites and blogs to read content, however this webpage presents feature based articles.

    I saw similar here: Najlepszy sklep

  2. Appreciating the time and effort you put into your website and in depth information you present.
    It’s awesome to come across a blog every once in a while that isn’t the same unwanted rehashed information. Great read!
    I’ve saved your site and I’m including your RSS feeds to my Google account.
    I saw similar here: sklep internetowy and also here: najlepszy sklep

  3. Wow, fantastic weblog structure! How long have you ever been running a
    blog for? you make running a blog glance easy. The total glance of your
    website is magnificent, as smartly as the content material!
    You can see similar: najlepszy sklep and here sklep

Comments are closed.