FRANCE OUTLOOK: Rush of LNG to meet uptick in French gas demand

Source: Heren

2018/08/10

LONDON (ICIS)--A wave of LNG promises to bolster supply in France in mid-August, while demand is expected to rise.

Up to eight LNG cargoes could arrive at French terminals from 13-19 August, according to port schedules, ship navigation data and market intelligence collated on ICIS shipping platform LNG Edge.

Of these, two are currently ballast, suggesting they will lift reloaded volumes for onward shipment elsewhere. All but two are bound for the Montoir terminal in the northwest, which indicates that any supply boost to the actual French grid would primarily pressure prices in the northern PEG Nord zone.

Meanwhile, demand is forecast to start the week strong, amid ongoing outages at nuclear power assets. Data from TSO GRTgaz said domestic consumption would average 62mcm/day from 13-14 August, up from 53mcm on working days this week.

That could soak up the fresh supply and head off any dramatic price moves.