Fixing of at least three LNG vessels for floating storage purpose helped spot rates surge to $30,000pd, up by 35. Gladstone LNG GLNG announced a binding Heads of Agreement HoA to sell 2 mtpa of LNG to Petronas with an option for an additional 1 mtpa on the same terms should GLNG wish to supply. Witnessing a huge surge in domestic natural gas demand, the second largest LNG exporter Malaysia is all set to become an LNG importer as well. It will be interesting to see if Malaysia builds an LNG receiving terminal or uses an FSRU to regasify the LNG shipments. Canada’s first LNG receiving terminal, the Canaport LNG terminal, is all set to receive its first shipment of LNG in the first week of July. The 7.5 mtpa regasification facility will mark the entry of Repsol into the North American natural gas market. Full Article...

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