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2016-04-21 13:40:00

U.S. LNG TO EUROPE

U.S. LNG TO EUROPE

 

USA LNG PROJECTS MAP

 

Within a decade of revolutionizing domestic natural gas markets, U.S. shale will for the first time enter Europe, a region dominated by Russian and Norwegian supplies.

Portugal will receive the tanker Creole Spirit, the sixth cargo from Cheniere Energy Inc.'s Sabine Pass facility, according to two people with direct knowledge of the matter. The first left the plant in Louisiana for Brazil in February.

Europe will become the third continent for U.S. shale gas, which has already turned the country into the world's biggest gas producer and will make it a net exporter this year, helping contribute to an 18 percent increase in global LNG capacity through 2017, according to Bank of America Merrill Lynch. The flexible U.S. volumes, coming after five years of stagnation in global LNG capacity, have already been shipped to Brazil, Argentina and India.

"LNG coming out of the U.S. is probably the single most important thing that will transform the future LNG market," Melissa Stark, energy managing director and global LNG lead at Accenture, said by e-mail. "It heralds the arrival of a global market."

The Creole Spirit, which left Sabine Pass on April 15, is now in the Atlantic Ocean headed toward Europe, according to ship-tracking data on Bloomberg. It's expected to arrive at the port of Sines in Portugal in about a week, one of the people said, asking not to be identified because the information is private.

Galp Energia SGPS SA, Portugal's biggest oil company, bought the cargo, the people said. Galp spokeswoman Rita Carvalho declined to comment by e-mail.

Europe's biggest energy companies, including Centrica Plc and Gas Natural SDG SA, contracted U.S. LNG, meaning trading will expand once cargoes become regular and commercial. More LNG tankers are being diverted to Europe's underused terminals and liquid hubs in the northwest after prices in key consuming nations in Asia fell. LNG imports to Europe rose 16 percent last year, according to the International Group of LNG Importers.

Portugal relied on LNG imports, mainly from Nigeria, for about a third of its natural gas last year, according to energy grid operator REN-Redes Energeticas Nacionais SA. The rest came by pipelines from Algeria through Spain. The southern European nation boosted LNG imports 13 percent to 1.1 million metric tons last year.

Cheniere estimates shipping costs to Europe at 50 cents a million British thermal units compared with $1.50 to transport fuel to Asia. Spot Asian LNG crashed 72 percent in the past two years amid rising production in Australia and weaker demand in Japan, South Korea and China, the world's biggest consumers of LNG. That narrowed the price difference between Europe and Asia.

Geopolitical Symbolism

"U.S. LNG supply to Europe may have strong geopolitical symbolism, but its current volume impact will be negligible, until the big volumes come on stream in 2018-19, and cargoes will probably go to higher value markets in Latin America and elsewhere," Jonathan Stern, chairman and founder of the Oxford Institute for Energy Studies, said by e-mail.

Russia's Gazprom PJSC, which is seeking to boost exports to its biggest market by revenue to a record this year, has said U.S. LNG can't compete on price in Europe and American supplies to the region will be limited. Russia meets a third of European gas supply, with Germany being the biggest market.

More than half of U.S. total LNG production may be destined for Europe by 2020, according to Wood Mackenzie Ltd. Cheniere said in January that it can profitably sell LNG despite lower prices, though margins may be as little as $1 per million Btu to Europe.

boereport.com

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More:

GAS FUTURES UP 7.6% 

EU GAS PRICE 

NORD STREAM'S REPUTATION 

GLOBAL LNG UP 2.5% 

GAZPROM & OMV AGREEMENT 

EU GAS USE UP 4% 

NORD STREAM: THE PERFECT OPPORTUNITY 

U.S. LNG FOR TURKEY 

U.S. LNG FOR EUROPE 

U.S. WANT YOUR MONEY 

U.S. GAS PRICES UP

 

Tags: USA, EUROPE, LNG, GAS, RUSSIA, GAZPROM
U.S. LNG TO EUROPE September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

U.S. LNG TO EUROPE September, 20, 09:00:00

GAS PRICES UP TO $3.146

U.S. LNG TO EUROPE September, 20, 08:55:00

ЦЕНА URALS: $51,81591

U.S. LNG TO EUROPE September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

U.S. LNG TO EUROPE September, 20, 08:45:00

RENEWABLE'S FUTURE

U.S. LNG TO EUROPE September, 20, 08:40:00

TOTAL BUYS RENEWABLE

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Chronicle:

U.S. LNG TO EUROPE
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

U.S. LNG TO EUROPE
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

U.S. LNG TO EUROPE
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

U.S. LNG TO EUROPE
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

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