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European LNG sendout rises in December

02 Jan 2018 16:20 GMT
European LNG sendout rises in December

London, 2 January (Argus) — European LNG sendout was higher in December than a year earlier, largely driven by Spain and France.

Regasification increased to about 1.31 TWh/d from 1.17 TWh/d, although final data for some countries are not available for a few days.

Sendout increased to 547 GWh/d from 529 GWh/d in Spain, and rose to 266 GWh/d from 154 GWh/d in France.

Spanish PVB and southern French TRS prices for December delivery had followed northeast Asian LNG markets higher to remain competitive for Atlantic basin cargoes.

This was largely driven by strong power sector gas demand in Spain because of low hydroelectric stocks.

Sendout from France's southern Fos-sur-Mer terminals had also been particularly low in December 2016 because of a halt to loadings at Algeria's Skikda export terminal.

But LNG receipts and regasification elsewhere in northwest Europe, including northern France, remained weak last month.

UK sendout edged lower, while Belgian and Dutch regasification remained little more than boil-off.

Strong demand from the Asia-Pacific and Middle East — as well as Spain — has drawn supply away from northwest Europe this winter.

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European LNG sendout edges up in December GWh/d