BG shipping Egyptian LNG to US

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Oct 2008

BG Group's Bluesky liquefied natural gas tanker is due to deliver to the Lake Charles import terminal in the US on 12 November, according to AISLive ship tracking data. The cargo is coming from Egypt and will be delivered to Lake Charles, where BG Group owns all the 2.1 billion cubic feet of daily natural gas capacity, an analyst with Waterborne consultants said. Imports into Lake Charles have fallen considerably this year as BG has sent many of its cargoes to the Pacific basin, from the Atlantic basin, drawn by higher demand and prices, said a Reuters report.
According to a recent report from Waterborne analysts, LNG imports so far this year total 8.65 billion cubic feet of gas compared to 249.65 bcf for the whole of last year when US gas prices were more competitive.
Asian buyers, more concerned with supply than cost, have often paid twice the prices seen in the US and Europe this year.
However, in recent weeks demand and prices have dipped in Asia as storage tanks brim, leaving LNG spare for Europe and the US.
According to Waterborne, a further cargo could head to Lake Charles from Trinidad later in the month, though this is unconfirmed.

Source: Upstream Online