State-owned Angola LNG is offering a cargo for delivery over 29 August to 26 September for loading from its 5.2mn t/yr Soyo liquefaction facility, through a tender closing on 16 August.
The cargo is being offered on a des basis to various destinations within the Atlantic basin, Europe, Indonesia, Malaysia, Singapore and Thailand. It can be delivered to Bangladesh, India and Pakistan over 5-20 September.
The firm was last in the market to offer a cargo for 29 August to 17 September delivery from its Soyo liquefaction facility, and the tender closed on 9 August. Results of the tender remain unclear.
This is Angola’s third tender this month, which could alleviate potential tight supply in Asia-Pacific. Industrial action could impact Chevron’s 15.6mn t/yr Gorgon and Wheatstone LNG facilities in Australia as well as the Woodside-operated 4.9mn t/yr Pluto and 16.3mn t/yr North West Shelf (NWS). The strike might take place sometime in September should it go ahead, potentially impacting production during that month, which could tighten supply and lead to higher offers.
Pockets of prompt demand have continued to emerge in south Asia. Indian major importer Gail is seeking a cargo for delivery over 5-10 September through a tender closing on 16 August. Fellow state-owned IOC withdrew its tender for 15-25 September delivery, due on 11 August, as a result of market volatility.
The front half-month of the ANEA, the Argus assessment for spot LNG deliveries to northeast Asia, stood at $11.495/mn Btu on 14 August, 85¢/mn Btu higher than a week earlier. The Argus-assessed price for deliveries to India and the Middle East was at $10.95/mn Btu for the front-half month on 14 August, 51¢/mn Btu higher than a week earlier.
