BG Group and Trafigura both picked up an LNG cargo at the recent North West Shelf tender.
According to sources, the cargoes were awarded on Friday saying that several bidders were looking to transport NWS LNG cargo to European markets that still hold a premium of $0.70 per mmBtu over Asia, reports Reuters.
Whether BG Group and Trafigura are planning to transport their cargoes to Europe remains to be seen. Europe’s narrow premium over Asian prices is a hurdle for companies looking to transport Australian LNG into Europe as the shipping costs have to bee very low.
According to sources, North West Shelf LNG halted selling more cargoes from June in hope that prices pick up.
LNG World News Staff; Image: Woodside