PIRA Energy Group said it believes that planned liquefaction maintenance adds up. In the U.S., there is very slow progress for Alaskan gas pipeline. In Europe, there is planned rough storage closure pushing more Norwegian gas to France and Belgium.
Specifically, PIRA’s analysis of natural gas market fundamentals has revealed the following:
Angola LNG 53-day maintenance period has been pushed out to mid-Sept. on leaks in onshore gas pipelines. PIRA estimates the plant could restart in early November. Trinidad train 3 is down for maintenance this month, while Qatar maintenance this month through November will take off some 23-mmcm/d on average for the period.
Very Slow Progress for Alaskan Gas Pipeline
Progress has moved glacially since January 2012 when Alaskan Governor Sean Parnell called on TransCanada and three North Slope producers “to move forward on a large-diameter LNG pipeline to tidewater in Alaska.” This past June, Governor Parnell acknowledged the four companies did not meet his latest benchmark for progress, which was an agreement to conduct preliminary engineering and design work (pre-FEED). In PIRA’s view, ExxonMobil is the key player to watch, as the Alaskan gas pipeline cannot be completed without its participation.
Planned Rough Storage Closure Pushes More Norwegian Gas to France and Belgium
Lack of access to Rough storage will create trading anomalies over the next week in the U.K. The Rough storage closure has not led to higher U.K. flows to the Continent, as Norway has diverted more volumes to France and Belgium. These countries experienced significant decreases back in August during heavier maintenance in Norway.
[mappress] LNG World News Staff, September 19, 2013