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flows from America. The gap between the two countries’ LNG deliveries to western Europe shrank in July to the narrowest since late 2021, according to preliminary ship-tracking data compiled by Bloomberg. shippers of US LNG will always choose a higher-paying region to point their tankers to. American seaborne gas typically doesn’t have destination restrictions. As soon as hot weather boosted demand in Asia, more of it was delivered there than during any month since 2021.
Egypt, which is battling power shortages amid extreme temperatures and reduced domestic gas production, has boosted LNG imports. The North African nation has to pay a premium to European prices to attract supply and took a share of US flows this month.
The terminal of liquefied natural gas (LNG) shipment from the Murmansk LNG plant can be capable of shipping 13.6mn metric tonnes of LNG annually, according to its design documents posted for the public discussion of the environmental impact assessment. The project will consist of two trains of 6.8mn metric tonnes each. "The total freight turnover for the full development of the terminal amounts to 13.6mn metric tonnes of LNG per year," the documentation indicates. The timeline for project implementation is 2027-2029.
Liquefied natural gas (LNG) flows from European terminals to the EU gas transport system plunged in June 2024 to record low values since November 2021, according to Gas Infrastructure Europe (GIE) data. They plummeted by 32% month on month and by 13% annually to slightly more than 8bn cubic meters. LNG supplies from terminals to the Europe’s gas transport system fell by 14.2% year on year since the start of this year to about 58.5bn cubic meters. LNG deliveries rank first among Europe’s gas sources this year and total 36%, according to data of the European Network of Transmission System Operators for Gas (ENTSOG) as of June 26. Supplies from the North Sea are at the second place with the share of 29%, and the third place (11%) belong to gas supplies from the East.
LNG imports into Europe in the middle of July reached almost 1.8bcm, the lowest point since before Russia’s invasion of Ukraine in February 2022, subsequent drop in pipeline gas supply and increase in reliance on LNG. Imports are forecast to drop even further this week and hit a new low for this month of slightly more than 1.7bcm, although the volume, timing and destinations may change, according to the data. Discharges of the liquid fuel this month are also set to hit their lowest since September 2021 amid robust supply and storage, with the month to date last seen 12% lower month on month to 6.4bcm. June has so far seen the lowest LNG imports since October 2021 at 9.7bcm but July supply is set to sink closer to 8bcm, less than half the record monthly high of 17.8bcm reached in December 2022. This comes as supply concerns ease with the partial restart of Freeport LNG, the second biggest export plant in the US with 20bcm of capacity.
200 RUSSIA Country Report August 2024 www.intellinews.com