A loaded liquefied natural gas (LNG) tanker is stranded at an export terminal in Australia, potentially disrupting some shipments and adding to supply concerns ahead of the Northern Hemisphere winter. The vessel, which lost power at a berth at the Australia Pacific LNG facility on Curtis Island in Queensland, is currently unable to leave, Origin Energy Ltd. said in a statement. As a result, no other cargoes can be loaded until the situation is resolved.
Two cargoes have already been deferred from a delivery schedule for the financial year through June, and Origin expects additional shipments to be impacted. LNG prices in north Asia have held near $16 a million British thermal units over the past month, above their five-year seasonal average but about half the level in the previous two years, as Europe built up unprecedented inventories. However, new outages, adverse weather, or additional curbs on Russian gas could spur more price volatility and exacerbate global LNG supply risks, Bloomberg Intelligence said in a report this month. Australia is one of the world's biggest suppliers of the fuel.
