Energy

BP, Repsol to supply China's terminal With LNG spot cargoes

(Agencies)
Updated: 2011-01-10 15:37
Large Medium Small

BP Plc and Repsol YPF SA may supply two spot cargoes of liquefied natural gas to China in January, Bloomberg reported citing ship-tracking data.

Castillo de Santisteban, a 173,673 cubic-meter tanker, may reach Shanghai's LNG terminal on Jan 18, carrying a cargo from Peru's Pampa Melchorita facility, according to AISLive on Bloomberg Monday. Repsol YPF has marketing rights for the cleaner-burning fuel from the 4.5 million ton-a-year facility, according to New York Energy Intelligence Group's World LNG Review.

One of China's three LNG terminals may receive a shipment on Jan 24 on BP's British Merchant, a 138,517 cubic-meter vessel, from Point Fortin, Trinidad & Tobago, according to transmissions from ships. A cargo was delivered to Guangdong Dapeng LNG Corp on Jan 7 on the GDF Suez Cape Ann, a 145,000 cubic-meter vessel, possibly from Idku in Egypt.

Related readings:
BP, Repsol to supply China's terminal With LNG spot cargoes China's 1st LNG cold energy air separation unit facility in operation
BP, Repsol to supply China's terminal With LNG spot cargoes CNOOC starts to build 4th LNG terminal
BP, Repsol to supply China's terminal With LNG spot cargoes Woodside, China may sign LNG supply deal by end-2010
BP, Repsol to supply China's terminal With LNG spot cargoes China’s largest LNG port completed in Dalian

China didn't buy any spot supplies in November compared with three cargoes from Yemen, Russia and Trinidad & Tobago in October, according to customs data.

Prices of ex-ship spot LNG into East Asia for delivery 30 days ahead were $9.90 per million British thermal units as of Jan 5, according to bids and offers gathered by Spectron Group, a brokerage owned by Imarex ASA. That's more than twice the price of benchmark gas futures at Henry Hub in the US, and about $1.20 per million Btu more than benchmark U.K. gas, used to price spot cargoes delivered to Asia.

Imports of LNG by China rose 23 percent from a year earlier to 727,575 metric tons in November, according to the General Administration of Customs.