An LNG backlog in Argentina caused by that country's fiscal crisis and an unusually warm winter has had an unwelcome knock-on effect for its main LNG suppliers, Gas Natural and BP, who have been left short of tankers for their T&T cargoes, an online shipping news site reported yesterday.
A Houston-based source told the news site that BP and Gas Natural have been scrambling for extra capacity in T&T. However, spokesmen for the two companies in Port-of-Spain and Madrid, Spain, have not returned calls seeking comment."Argentina's taking advantage of the global market," a London-based shipping source said.
"There's lots of spare capacity floating around in the form of re-exports and fresh tankers. LNG is being produced that has no fixed destination."Europe doesn't want it, and Asia hasn't got capacity for more to arrive. A lot is just going straight to Argentina as spot deliveries, and they're trying to optimise the way they receive those cargoes."