Mexico takes spot LNG cargo as price dips below cost of US pipeline imports

摘要

Mexico’s Altamira LNG terminal could receive its first LNG cargo since October 2019, with a reloaded cargo from France’s Fos Cavaou terminal en route to the facility, ship tracking data revealed today. Imports to Altamira dried up due to rising gas pipeline imports from the US, but gas prices in the US are now at a premium to most markets – driving LNG imports into North America. In a further sign of how cheap spot LNG and strong Henry Hub pricing is reshaping LNG flows, Kinder Morgan’s Elba Island LNG plant in the US Gulf is now in line to receive an LNG cargo from Nigeria.