U.S. LNG FOR BRITAIN
PLATTS - The UK's first US LNG cargo will arrive at the Isle of Grain terminal on around July 8, according to shipping sources.
The cargo from Sabine Pass is loaded aboard the Maran Gas Mystras, which is currently being chartered by Total.
Another LNG cargo is expected at Isle of Grain this month, as a result of the Trafigura-controlled Adam LNG being diverted away from India towards the UK. The vessel has a cargo from Nigeria on board, and will arrive mid-July.
Total does not own long-term capacity at the Isle of Grain terminal, but is an 8.35% shareholder in South Hook LNG in Wales.
Isle of Grain has a 15 million mt/year throughput capacity, and counts BP, Centrica, Iberdrola, Engie, Uniper and Sonatrach as its long-term capacity holders.
Isle of Grain has received six cargoes so far this year -- two from Qatar, two from Algeria, and one each from Trinidad & Tobago and Algeria. The LNG terminal also sent a reload to the Dominican Republic in February.
Stocks at the beginning of Monday's gas day at Isle of Grain were 249 million cu m of natural gas equivalent, about 42% of the facility's capacity, according to National Grid data.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.