Yemen LNG To Shun US - For Now

摘要

With the start-up of Yemen LNG now imminent, the targeted destination for the new supply is no longer the depressed North American market. Diversion to higher-netback locations is a strong likelihood - assuming the project's two main buyers, GDF Suez and Total, can find interested customers.Christophe de Margerie, chief executive of Total, made clear at a press conference at the 24th World Gas Conference in Buenos Aires last week that GDF Suez is free to divert Yemen LNG output originally dedicated to the US. As long as "it is a win-win for everybody, I don't have any problem," he commented, implying that arbitrage profit from diversions will be shared among the partners.