This week, another tanker has arrived at the Krk LNG Terminal. The 63kt cargo delivered to the installation became just the fifth one since Jan, but even that quantity is enough to provide an understanding of how the global LNG market evolved in the first four months of ‘21.
The Croatian FSRU became operational at the very beginning of this year, when suppliers actually lost interest in westward deliveries with LNG prices in the Asian region touching the skies. There was only one cargo imported to the Krk terminal between Jan and Feb, a few weeks before the chaos in Asia began.
As the JKM-TTF spread had tightened, more and more cargoes made their way to Europe, as can be seen from the imports to Croatia starting from late Q1. In Mar-Apr the country’s FSRU handled four ships, half of which were loaded in the US. Another one was re-exported from Zeebrugge, in contrast to early ’21 when most cargoes redirected from NWE ended up in Asia.
Krk terminal is certainly not the only one in Europe which serves as an indicator of LNG market movements. But if it takes quite a while to analyse larger installations, looking through Croatian imports can save you a lot of time. That is useful, isn’t it?
Source: Yakov Grabar
See original post by Yakov at LinkedIn.