Page 15 - GLNG Week 18 2021

GLNG NEWS IN BRIEF GLNG

EUROPE

First cargo from Egypt

to reach Lithuanian LNG
terminal

The Klaipeda (Lithuania) liquefied natural gas
(LNG) terminal, operated by KN (Klaipedos
Nafta) expects to receive LNG cargo from
Egypt, the ‘Idku’ natural gas liquefaction
plant to reach Klaipeda Seaport for the first
time. The LNG carrier ‘LNG Fukurokuju’
is expected to deliver approx. 138,000 cubic
metres of LNG.
After the planned maintenance and
repair works, the LNG terminal, which has
successfully resumed operations on May 1st,
expects to receive cargo from Egypt on May
7th. The LNG carrier ‘LNG Fukurokuju’, built
in 2016 and currently sailing under the flag
of Bahamas, will visit the Klaipeda Seaport
Tellurian reports first- natural gas in Canada, similar to the United for the first time and also deliver the first ever
States’ Henry Hub, which is the natural gas
cargo from Egypt to Lithuania.
quarter 2021 results price benchmark used as indexation to LNG Asia, a large part of cargo from Europe is
“As the prices of LNG are still high in
price. It is transparent as the index is traded in
Tellurian continues to build its integrated real time, with high liquidity backed by large diverted exactly there by taking advantage
global natural gas business, focusing on debt gas reserves. of the spot market opportunities, and a
reduction during the first quarter of 2021. The introduction of AECO is part of certain new-found niche is filled by Egypt,
Subsequent to the quarter end, Tellurian made PETRONAS’ plan to include additional which has been less visible on the map of
a voluntary $17mn debt repayment on April pricing option for its customers, allowing European LNG suppliers so far. What is more,
23, 2021, and has now paid off all borrowing them to enjoy its associated benefits. With Egypt announced in January that it would
obligations. AECO, LNG buyer has the flexibility to significantly increase exports to Europe to
President and CEO Octávio Simões said: further diversify its price exposures from meet the growing demand for LNG here.
“Tellurian now has a much stronger balance established key price indices such as Japanese Taking into account both the requirements of
sheet and global customers continue to be Crude Cocktail (JCC), Brent, Japan Korea Klaipeda LNG terminal equipment and the
very interested in our integrated, market- Marker (JKM), US Henry Hub and UK requirements of the Lithuanian natural gas
based liquefied natural gas (LNG) product National Balancing Point (NBP). market, the natural gas liquefied in Egypt are
offering as they build their portfolios with “As a customer-centric LNG solutions suitable for our natural gas system in terms of
flexible, reliable and cleaner energy sources. provider, we continuously seek to provide its calorific and energy value,” says Mindaugas
Additionally, we are looking forward to customised solutions in meeting our Navikas, chief sales officer at KN.
expanding our drilling program in 2021, customers’ energy demand, whilst offering According to Mindaugas Navikas, this
having recently spud a new well in the prolific them a competitive pricing structure,” said natural gas year, after the shutdown of
Haynesville Shale, that we expect to provide Ezran Mahadzir, PLL’s chief executive officer. ‘Equinor’ liquefaction plant in Norway,
valuable revenue.” The sale of the spot cargo on AECO-linked which plans to resume operations next
TELLURIAN, May 05, 2021 price is a significant step towards establishing spring, to match their commitments terminal
a transparent price index in the LNG market users imported most cargo from the USA
to not only complement PETRONAS’ (about 82%). In the natural gas year 2020
ASIA pricing diversification for cargoes but also the majority of the LNG was imported from
for the supply of LNG from Canada when it Norway (about 70%), as well as in 2019 (86%
PETRONAS strikes the first commences commercial delivery, expected in from Norway).
2024.
Currently, Klaipeda LNG terminal is
AECO-indexed LNG deal its global portfolio of supply from Malaysia, implementing an annual capacity allocation
PETRONAS sources LNG cargoes from
procedure, during which terminal users plan
PETRONAS LNG Ltd (PLL) introduced the Egypt, Australia and soon Canada, and cargo and book capacities for the new gas
Canada Alberta Energy Company (AECO) is no stranger in offering variety of LNG year, which begins on October 1, 2021.
index as a new LNG price indexation to its price indices to suit its partners’ needs and By the start of the new gas year, 13 more
customers following the sale of a spot LNG preferences. LNG carriers are expected at the LNG
cargo from Bintulu, Malaysia, to a buyer in PETRONAS LNG LTD., May 07, 2021 terminal, with the ‘LNG Fukurokuju’ included
Far East for August 2021 delivery. in this number.
AECO is a leading price benchmark for KLAIPEDOS NAFTA, May 04, 2021

Week 18 07•May•2021 www. NEWSBASE .com P15