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UK to receive more Russian LNG

  • Market: Natural gas
  • 04/02/21

The 14.8mn t/yr Isle of Grain LNG terminal has booked another Russian delivery for next week, bringing the UK's scheduled February Russian receipts to three.

The 172,600m³ Nikolay Zubov is expected at Isle of Grain on 11 February, having cast off from Sabetta yesterday.

The tanker will follow the 172,600m³ Georgiy Ushakov, which unloaded its Yamal cargo at Isle of Grain yesterday. One other Russian delivery — on board the 172,600m³ Vladimir Voronin — is scheduled at the 4mn t/yr Dragon facility for 10 February. Russia already made up most of the UK's receipts last month, accounting for six of the seven in total.

Yamal shipments to Europe climbed on the year in January. But 66pc of the cargoes were transshipped, leaving European receipts at 1.08mn t of LNG, down from 1.24mn t a year earlier.

Yamal's fourth 940,000 t/yr liquefaction train was commissioned last month, which could provide scope for stronger exports.


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14/02/25

Mexico’s Sierra Madre pipeline faces permit hurdles

Mexico’s Sierra Madre pipeline faces permit hurdles

Mexico City, 14 February (Argus) — Gas supply to Mexico's largest LNG terminal is in question as security concerns and community opposition threaten the Sierra Madre pipeline's progress. Mexico Pacific's 48-inch, 800km (497 mi) pipeline, when completed, will transport up to 2.8 Bcf/d of natural gas from Texas' Waha Basin to Mexico Pacific's Saguaro LNG terminal in Puerto Libertad, Sonora state. The terminal, under construction, is expected to reach 30mn tonnes (t)/yr capacity over two phases — nearly half the combined output of Mexico's six Pacific LNG projects. Mexico Pacific says the first three 5mn t/yr trains will be completed in 2025, with all federal, state and municipal permits secured. But the pipeline still lacks key state and municipal approvals. "The terminal has all its permits," said Miriam Grunstein, a former advisor to the energy regulatory commission CRE. "But some pipeline permits will be tough to secure." Both the terminal and pipeline have strong federal and state backing. In October, Mexico's president Claudia Sheinbaum publicly praised Mexico Pacific's planned $15bn investment. The company also signed agreements with Chihuahua and Sonora state governments and national power utility CFE to channel investments into social, security and infrastructure projects. "The pipeline is likely to get state permits," Grunstein said, "but political opposition is real." While Sheinbaum's Morena Party dominates congress, Chihuahua governor Maria Eugenia Campos belongs to the opposition party PAN, and the centrist PRI still holds sway in northern states. "The PAN and PRI could try to block the project to weaken Morena," Grunstein said. Security is another major hurdle. "Border projects need military protection," said Eduardo Prud'homme, former technical director at Mexico's state pipeline operator Cenagas, citing threats from criminal organizations trafficking drugs and migrants. The pipeline's route runs near the Altar desert, a federally protected area used by human traffickers. Clashes with drug gangs and armed human traffickers could escalate after Sheinbaum pledged to deploy thousands of National Guard troops to the border in talks with US president Donald Trump, Grunstein said. The last time Mexico waged direct war on cartels — during the 2006-2012 administration of former president Felipe Calderon — it resulted in over 120,000 homicides and 27,000 disappearances in six years, according to government data. Durazo's 'Plan Sonora' Sonora governor Alfonso Durazo has privately committed to securing the Sierra Madre project, Grunstein said, while Chihuahua's Campos "has been silent on the issue." "For Durazo, the stakes are high," she said. "It's part of ‘Plan Sonora,' his administration's flagship project, and he'll push to start construction this year." Launched in 2022, Plan Sonora aims to establish a cross-border lithium battery supply chain, with a state-owned company managing lithium extraction. A new 1GW CFE solar plant will support the industry, but natural gas from Sierra Madre remains key in the transition. Environmental opposition could further complicate matters. Over 30 civil groups have protested the LNG project's impact on the Gulf of California's biodiversity, organizing rallies and gathering 200,000 signatures. Their formal complaints date back to former president Andres Manuel López Obrador's administration, but Sheinbaum— an environmental scientist — has yet to address them. Indigenous resistance may pose the biggest challenge. Mexico Pacific is likely just beginning the legally required consultation process. "Mexico has struggled to secure indigenous approvals for pipelines," Grunstein said. "The Tula-Tuxpan pipeline was delayed over six years because of opposition. This could trigger even greater resistance." By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Central eastern Europe’s gas flows switch west to east


14/02/25
News
14/02/25

Central eastern Europe’s gas flows switch west to east

London, 14 February (Argus) — Strong import demand in Ukraine and Moldova has shifted regional pricing dynamics and driven a switch to west-to-east gas flows in central and eastern Europe. Outflows from Slovakia, Poland and Hungary to Ukraine surged to a combined high of 267GWh on 13 February, after Ukraine's Naftogaz started issuing tenders for additional gas on a day-ahead basis on top of previous balance-of-month bookings. Combined outflows at these points were only 30 GWh/d on 1-5 February, but they stepped up significantly afterwards as the weather turned much colder and continued attacks on Ukrainian gas production infrastructure significantly reduced domestic output ( see flows graph ). And capacity bookings suggest flows will remain strong. Firms have booked 78 GWh/d at Budince on the Slovak border and 54.1 GWh/d at Bereg on the Hungarian border for the rest of February and may continue to top this up with day-ahead or within-day reservations. After including receipts from Isaccea in Romania and some transit through Moldova, Ukrainian inflows reached as high as 274GWh on 13 February. But at least some of this gas exited Ukraine again to end up in Moldova, particularly when EU-funded imports to the Transnistrian region ended and Moldovagaz took over supply obligations on 11-13 February. Trading firm Met will supply gas to Moldova from today onwards, probably through Bereg on the Ukrainian border rather than the previously-used route through Isaccea. After taking into account all of these border flows, Ukrainian net imports reached 229GWh on 13 February, by far the highest this month. With Ukrainian gas storage withdrawals at nearly full capacity , any additional upward flexibility needed in the system will have to come from higher imports. Higher Ukrainian and Moldovan import demand has not just flipped flows at these countries' borders, but has also drawn in gas from further west. Physical gas flows at Baumgarten on the Slovak-Austrian border flipped towards Slovakia on 12-13 February for the first time since one day in December last year, and before that in December 2020. The end of Russian gas transit through Ukraine, which moved Russian gas across Slovakia to Austria, made the switch more feasible but was still a reversal of average net outflows to Austria of 12 GWh/d on 1-11 February. And flows from Austria to Hungary at Mosonmagyarovar have stepped up significantly since 7 February, averaging 56 GWh/d on 7-13 February against nearly zero earlier in the month. Mosonmagyarovar was little used since the start of last year, having previously carried Russian gas transited through Ukraine to Hungary, as well as spot purchases when economical. And while Oberkappel on the German border had already been flowing towards Austria since the start of this month, net inflows jumped to 109 GWh/d on 7-13 February from 52 GWh/d earlier this month. Significant changes to regional gas price differentials have incentivised this reorientation of flows in central and eastern Europe. The Hungarian and Slovak day-ahead markets each have held a consistent premium to Austria since 6 February, having been at a small discount earlier this month and at larger €1.92/MWh and €0.93/MWh discounts, respectively, in January. Naftogaz has bought the majority of its gas from Slovakia and Hungary, driving up prompt prices to a premium to other neighbouring markets. The Slovak day-ahead market's premium to Austria peaked at €1.40/MWh on 13 February, while Hungary's premium reached €2.64/MWh on 11 February ( see price graph ). By Brendan A'Hearn Ukrainian flows in February GWh HU, SK day-ahead prices vs AT €/MWh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Trump announces plan for 'reciprocal' tariffs: Update


13/02/25
News
13/02/25

Trump announces plan for 'reciprocal' tariffs: Update

Updates with more details, additional quotes from Trump. Washington, 13 February (Argus) — President Donald Trump said today he would impose "reciprocal tariffs" on imports from an undisclosed number of countries sometime in the future, a move that could affect imports of ethanol and likely many other energy commodities. The idea behind the next major wave of tariffs Trump plans to unveil is to raise the US import tariffs to the same level foreign countries charge on exports from the US. A fact sheet circulated by the White House singled out Brazil's tariffs on US-sourced ethanol and EU's higher tariffs on imported cars as examples of the allegedly discriminatory treatment that Trump would attempt to address. "They charge us a tax or tariff, and we charge them the exact same tax, very simple," Trump told reporters at the White House. As with his first tariffs against Canada and Mexico — paused until 4 March — and against China, which went into effect on 4 February, there is a great deal of regulatory uncertainty on how or when the tariffs will be implemented. "Nobody knows what that number is, unless you go by the individual country, and you can see what it is," Trump said. So far, the pending actions do not yet appear to be as severe or hastily implemented as Trump's recent comments led many to believe. His directive does not set a specific deadline for when the reciprocal tariffs will be imposed. It merely directs US government agencies to review if US exporters face higher taxes and other trade barriers compared with their foreign competitors, and to propose countermeasures. The review preceding the potential imposition of 'reciprocal tariffs' will be complete by 1 April, Trump's commerce secretary nominee, Howard Lutnick, said. "We'll be ready to go on 1 April and and we'll hand it to the president, and he'll make a decision," Lutnick said. The intent of the directive is to force foreign countries to lower their tariffs against the US. But that outcome is not guaranteed. Trump's 10pc tariff on imports from China, and Beijing's more limited counter-tariffs, went into effect this month despite his claim that he would quickly negotiate with Beijing to avert a trade war. In what is becoming a norm with the tariff announcements, Trump is alternatively downplaying inflationary effects of such tariffs, or casting any negative effects as justified. The tariffs are going to result in "tremendous amounts of jobs, and ultimately prices will stay the same, or go down, but we're going to have a very dynamic country," Trump said. Prompted by the reporters to say if voters would hold him responsible for any resulting spike in inflation, Trump said, "prices could go up somewhat short-term, but prices will also go down." The White House, at least, no longer rejects descriptions of tariffs as a tax, even though it continues to insist that only foreign exporters — not US consumers — will be paying it. Trump has imposed a 25pc tariff on imported steel and aluminum that will become effective on 12 March. The 1 April date referenced in today's announcement is also a deadline set in an earlier Trump executive order for all US government agencies to investigate the causes of "our country's large and persistent annual trade deficits in goods". That review is the first step in planned imposition of tariffs on national security and other grounds against imports from the EU, UK, India, Vietnam and other major economies. The large deficit the US runs in trade in goods with India will be a subject of Trump's meeting later today with Indian prime minister Narendra Modi. The US expects India to step up purchases of crude and other energy commodities to better balance bilateral trade. Trump likewise told Japan's prime minister Shigeru Ishiba last week that Tokyo should ensure that Japanese energy companies source more US oil, LNG and ethanol to "get rid of" the US' trade deficit with Japan. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Trump announces plan for 'reciprocal' tariffs


13/02/25
News
13/02/25

Trump announces plan for 'reciprocal' tariffs

Washington, 13 February (Argus) — President Donald Trump said today he would impose "reciprocal tariffs" on imports from an undisclosed number of countries sometime in the future, a move that could affect imports of ethanol and likely many other energy commodities. The idea behind the next major wave of tariffs Trump plans to unveil is to raise the US import tariffs to the same level foreign countries charge on exports from the US. Trump's trade advisers previously cited Brazil's tariff on US-sourced ethanol, which is higher than the US customs duty on ethanol, as an example of the disparity they would attempt to address. "They charge us a tax or tariff, and we charge them the exact same tax, very simple," Trump told reporters at the White House. As with his first tariffs against Canada and Mexico — paused until 4 March — and against China, which went into effect on 4 February, there is a great deal of regulatory uncertainty on how the tariffs will be implemented. "Nobody knows what that number is, unless you go by the individual country, and you can see what it is," Trump said. Trump's directive does not set a specific deadline for when the reciprocal tariffs will be imposed. The intent of the order is to force foreign countries to lower their tariffs against the US. But that outcome is not guaranteed. Trump's 10pc tariff on imports from China, and Beijing's more limited counter-tariffs, went into effect this month despite his claim that he would quickly negotiate with Beijing to avert a trade war. In what is becoming a norm with the tariff announcements, the Trump administration is alternatively downplaying inflationary effects of such tariffs, or casting any negative effects as justified. "Last year, US-based companies paid foreign governments $370bn in taxes," White House National Economic Council director Kevin Hassett said today. "Meanwhile, foreign companies paid the US $57bn in taxes. Are we supposed to keep doing that because of some economic model that doesn't have the whole real world in it?" The White House, at least, no longer rejects descriptions of tariffs as a tax, even though it continues to insist that only foreign exporters — not US consumers — will be paying it. Trump has imposed a 25pc tariff on imported steel and aluminum that will become effective on 12 March. He set a deadline of 1 April for all US government agencies to investigate the causes of "our country's large and persistent annual trade deficits in goods" — a review that likely will result in additional tariffs later this year against imports from the EU, UK, India, Vietnam and other major economies. The large deficit the US runs in trade in goods with India will be a subject of Trump's meeting later today with Indian prime minister Narendra Modi. The US expects India to step up purchases of crude and other energy commodities to better balance bilateral trade. Trump likewise told Japan's prime minister Shigeru Ishiba last week that Tokyo should ensure that Japanese energy companies source more US oil, LNG and ethanol to "get rid of" the US' trade deficit with Japan. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

US wholesale inflation holds near 2-year high in Jan


13/02/25
News
13/02/25

US wholesale inflation holds near 2-year high in Jan

Houston, 13 February (Argus) — Prices paid to US producers in January held at nearly a two-year high, another sign of mounting inflation pressures that may keep the Federal Reserve from lowering rates for longer. Prices paid to producers (PPI) rose by 3.5pc in January from a year earlier, matching the prior month's gain, the Bureau of Labor Statistics said today. Analysts surveyed by Trading Economics had forecast a gain of 3.2pc. The PPI number follows a higher-than-expected consumer price reading Wednesday which together reinforce the message that the Federal Reserve may hold off longer on rate cuts, especially in the face of potentially inflationary trade conflicts and migrant roundups under the new US administration. PPI excluding food, energy and trade services rose by 3.4pc in January following a 3.5pc gain in December. PPI for services rose by 4.1pc in January following a 4pc gain in December. Wholesale prices for energy were flat following a 2pc annual decline the prior month. PPI for goods rose by 2.3pc in January following a 1.8pc gain in December On a monthly basis, headline PPI rose by a seasonally adjusted 0.4pc, compared with a 0.5pc gain in December and a 0.2pc increase in November. Services PPI rose by 0.3pc in December, following a monthly gain of 0.5pc in December and a 0.1pc gain in November. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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