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Belgium's Zeebrugge LNG to reload despite low stocks

04 May 2012 09:45:44 | lmd

Reload operations are set to remain centre stage in Europe this month. Beyond May, strong demand in Asia and South America strengthened the sentiment among traders that spot activity is unlikely to increase between June and August in Europe.

In May, Belgium's Zeebrugge LNG terminal could see three reload operations despite the facility's low stock levels earlier this month. Italian oil and gas major Eni is expected to lift two cargoes this month through its subsidiary, Eni Shipping & Trading, ICIS understands.

The 63,957m³ LNG Portovenere is en route to Zeebrugge, where it is due to arrive on 8 May, shipping data shows. The Eni-controlled vessel discharged at Greece's Revithoussa LNG terminal on 29 April, according to Greek operator DESFA.

The 128,639m³ Methania is due to arrive at Zeebrugge in the last few days of May in what could be a reload, sources said. Traders said the cargo could be destined for Argentina, where Eni won a supply position for one June cargo with ENARSA.

Meanwhile, the 7,500m³ Coral Methane is scheduled at Zeebrugge on 4 May, in what also appears to be a reload. The vessel, which picked up its first reload from the terminal in May 2010, is chartered by Norwegian small-scale LNG supplier Skangass.

On Wednesday, Belgian gas infrastructure operator Fluxys data showed LNG storage stocks at 5.2% fullness at Zeebrugge on Tuesday, at similar levels seen on 25-26 February.

The 145,000m³ Ejnan was due at the Belgian facility on 2 May and was the sole recent cargo known to discharge volumes before the arrivals of the two small tankers, Coral Methane and LNG Portovenere.

Last week, a source said Qatar's RasGas has diverted volumes under its contract with EDF Trading for Zeebrugge, which would make less volumes available for reloads for the London-based company this month.

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