Spot sales boost UK's August LNG outlook
Atlantic basin sources said UK LNG deliveries could reach double figures in August as spot cargoes bolstered the increase in contractual cargoes from Qatar.
The ramping up of Qatargas production after an extended maintenance period saw cargoes scheduled to the South Hook terminal on 5 and 14 August, with more now queueing up at the loading arm in Ras Laffan. Sources expected 6-8 cargoes to be supplied by Qatargas over the month.
However, it was the active marketing by RasGas which drew most attention in the UK market. The Q-Flex category Murwab is expected to arrive in the Dragon terminal on 16 August, according to AISLive data. The cargo was purchased DES for PETRONAS' capacity at the terminal by large portfolio player which has an arrangement with the Malaysia company. Gazprom was not thought to be involved in the deal.
Another Q-Flex, Al Sahla, is due to arrive at the Isle of Grain on 14 August, with UK utility Centrica thought to be the buyer.
Market participants were divided on reports that BG Group might take two further cargoes to the terminal in August.
"I can understand them taking a single cargo to cool their tanks after increasing send-out in response to higher NBP prices, but it is hard to see why they would bring a second," a trader said.
The 147,000m3 Arctic Lady is understood to be another candidate for delivery to the UK after loading in Hammerfest at the weekend.
The chance of scheduled cargoes being diverted away from the UK fell as the September NBP price steadied to close at 41.05p/th ($6.40/MMBtu) on Friday.
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