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Red Sea tensions delay Qatar LNG delivery to Endesa

  • Märkte: Natural gas
  • 26.01.24

Qatari state-owned QatarEnergy has rerouted an LNG shipment to Spain's Endesa around the Cape of Good Hope instead of through the Suez Canal owing to Red Sea tensions.

The shipment will be delayed by 12 days, but Endesa will not seek alternative supply or take further actions, sources told Argus today.

The 127,500m³ Al Khor departed Qatar's Ras Laffan liquefaction plant on Monday and has declared its arrival at Barcelona for 23 February, ship tracking data show. This implies a journey time of almost four weeks for a delivery around the Cape of Good Hope, while previous voyages by the Al Khor between Barcelona and Ras Laffan through the Suez Canal averaged two and a half weeks.

Endesa has a 750,000 t/yr long-term LNG supply contract with QatarEnergy until 2025. Additional shipments under this contract could continue to be delayed in the near term as attacks by Houthi militants persist in the Bab el-Mandeb strait, which links the Red Sea with the Gulf of Aden.

Qatar on 24 January confirmed that tensions in the Red Sea could affect the scheduling of some deliveries as they take alternative routes.

Deliveries from Qatar to Europe through the Suez Canal have recently taken around 2-3 weeks, according to Vortexa data. The 145,000m³ Methane Jane Elizabeth — the only carrier to recently complete a Qatari delivery to Europe around the Cape of Good Hope — took slightly over three weeks to reach European waters, and almost four weeks to reach Belgium's Zeebrugge port.


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