Angola LNG returns to global market with first post-shutdown cargo

Angola’s recently refurbished liquefied natural gas (LNG) export plant has launched a tender to sell its first cargo since it was unexpectedly shut down in April 2014.

According to tender document details relayed by traders, the cargo was loaded between June 3 and 5 on board the Sonangol Sambizanga tanker and bid submissions are due on the morning of June 13, trade sources said.

Angola LNG confirmed the first cargo since the shutdown had been loaded and was being sold via an international tender but did not give further details of the process.

The tender is valid until June 15, one source said, while a second trader said that up to six more cargoes could be loaded before the facility goes offline for a final phase of testing.

In the current tender, the delivery date of the first cargo varies according to the location of terminals dotted around the world.

Resuming supply from Angola may bring a measure of relief to buyers as delays to new projects and supply outages have helped to nudge spot LNG prices higher in the past few weeks.

The combined impact of these delays means there is less supply in the market than traders previously assumed, prompting some to cover short positions they otherwise intended to keep open.

 

 

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