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LNG Natural Gas Market Update – April 2017

Market News

LNG

  • Stable market in Asia as summer buying has initiated. Deals were closed in Korea and Japan around $5.70/MMBtu level.
  • Tenders from Japan, Korea and Thailand kept the demand side strong.
  • Hot weather outlook in Asia is fuelling the demand whereas Europe weather outlook is dampening the heating demand.
  • Spanish demand grew by 8.4% inQ1, primarily due to colder weather in Q1.
  • Poland bought a cargo from Cheniere Energy for June delivery from Sabine Pass.
  • Australian government has introduced LNG export restrictions through a procedure base dupon advice from market operator and regular.
  • Lower LNG prices has enhanced Indian appetite for imported LNG, LNG import rose by 16.4% during first 11 months of 2016-2017 Indian fiscal year.
  • US Department of Energy has approve Golden Pass project for the export of 2.21 BCF/day to non FTA countries.

Crude Oil

  • Higher inventory stockpiles reported by EIA has dampened the sentiments for WTI and impacted Brent prices through out the week.
  • Russia reported production cut of 300,000 b/d.
  • Baker Hughes oil rig data exhibited 15th consecutive increase in oil rig with number reaching 697, while total rig count increased to 870 from 857 last week.
  • Market sentiments on Brent and other non WTI grades are positive on OPEC and Non OPEC countries may extend production cut.
  • Negative factors on crude oil prices are weaker than expected US GDP numbers of 0.7% increase.
  • US dollar rose after ECB left interest rates at zero, pushing WTI prices down.

Natural Gas

  • Henry Hub prices depicted strength and closed at $3.27/mmbtu primarily by speculators on warmer weather expectations.
  • Warmer weather expected in Asia, Europe and North America, which may decrease the natural gas demand in Europe and USA, however, demand in Asia to increase due to increase in air conditioner usage.
JKM, FOB Singapore & Monthly Japan SpotDes India, FOB ME & DKI SLNG Index
SWE LNG and Hub Based Gas PricesNWE LNG and Hub Based Gas Prices
FOB Gulf Coast, HH and HH Driven LNG

 

LNG Merchant Activity

  • Five vessels carrying 17.59 BCF departed from Nigerian port for European and Taiwanese ports.
  • Eleven vessels with 34 BCF load departed from Australian terminals at Dampier and Gladstone for Asian destinations.
  • Middle Eastern terminals at Das Island (UAE) and Ras Lafan (Qatar) loaded 12 vessels carrying 37.75 BCF for Asian and European destinations.
  • Two cargoes totalling 6.48 BCF loaded this week from Sabina Pass.
Departure DateVessel NameCapacity(CBM)Loading PortDischarge Port
23-Apr-17Yensei River205,958Bonny, NigeriaYung An, Taiwan
25-Apr-17LNG ADAMAWA142,656Bonny, NigeriaYung An, Taiwan
29-Apr-17MARAN GAS ACHILLES174,000Bonny, NigeriaNot Known
28-Apr-17MARAN GAS EFESSOS159,800Bonny, NigeriaNot Known
26-Apr-17LNG PORT HARCOURT II170,000Bonny, NigeriaEurope
26-Apr-17LNG EBISU147,546Dampier, AustraliaHimeji, Japan
26-Apr-17NORTHWEST SEAEAGLE125,541Dampier, AustraliaPacific Ocean
26-Apr-17NORTHWEST SHEARWATER125,660Dampier, AustraliaNot Known
24-Apr-17NORTHWEST SANDERLING125,452Dampier, AustraliaNot Known
29-Apr-17MARAN GAS ULYSSES174,000Dampier, AustraliaTokyo, Japan
27-Apr-17DAPENG MOON147,200Dampier, AustraliaShenzen, China
23-Apr-17MRAWEH135,000DAS, UAENot Known
27-Apr-17UMM AL ASHTAN137,000DAS, UAETokushima, Japan
27-Apr-17UMM AL ASHTAN137000DAS, UAETokushima, Japan
24-Apr-17LNG Kolt210,000Gladstone AUPyeongtaek, Korea
24-Apr-17ARWA Spirit175,180Gladstone AUZhuhai, China
24-Apr-17CESI QINGDAO136,026Gladstone AUQingdao, China
29-Apr-17K.MUGUNGWHA148,776Gladstone AUPohang, Korea
28-Apr-17METHANE SHIRLEY ELISABETH142,800Gladstone AUSodegaura, Japan
28-Apr-17ARCTIC VOYAGER140,071MELKOYA, NorwaySKAGEN, Denmark
27-Apr-17CYGNUS PASSAGE145,400Prigorodnoye, RussiaAnegasaki, Japan
24-Apr-17AL REKAYYAT145,000Ras Lafan, QatarFreest Germany
25-Apr-17SK Summit135,933Ras Lafan, QatarPyeongtaek, Korea
25-Apr-17TAITAR NO.2144,627Ras Lafan, QatarTaichung, Taiwan
25-Apr-17Al Dabeel142,795Ras Lafan, QatarTaichung, Taiwan
26-Apr-17AL RUWAIS205,941Ras Lafan, QatarMataphut, Thailand
29-Apr-17DISHA136,026Ras Lafan, QatarDahej, India
29-Apr-17AL KARAANA205988Ras Lafan, QatarEurope
27-Apr-17AL MARROUNA149,539Ras Lafan, QatarCrossing Bay Eden
27-Apr-17ASEEM154,948Ras Lafan, QatarDahej, India
24-Apr-17OAK SPIRIT143,708Sabine Pass, USAtlantic for Orders
26-Apr-17SCF MELAMPUS170,200Sabine Pass, USCRISTOBAL, Panama
25-Apr-17Global Energy74,130Skikda, AlgeriaFOS SUR MER, France
Disclaimer: This is a personal analysis based upon public information and should not be used for buying and selling of commodities. This report can not be copied or redistributed without prior permission of Kaleem Asghar

Reproduced by permission of author. 

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