Spain to slow LNG intake in March, April: Enagas

Barcelona — Spanish shippers will slow their LNG intake in March and April, according to nominations published by Enagas Thursday.

For March, three cargoes have been canceled, reducing incoming volumes by 11% from initial nominations, which had been for a 12-year high of 4.65 million cu m. Thirty deliveries are now scheduled for next month, with 4.15 million cu m of liquid.

Three cargoes have been canceled at Cartagena, on March 16, March 17 and March 31 for a combined 436,000 cu m and one added on March 5 for 109,500 cu m, while one cargo has been canceled at Barcelona on March 2 for 161,000 cu m, among other minor changes, the data showed.

For April, LNG intake volumes will be cut back to 19 tankers for 2.73 million cu m, according to initial nominations, as the winter season ends.

LNG send-out into the grid in March will be 21.1 TWh, up from 20.3 TWh nominated last month. For April, nominated send-out has been reduced to 16.4 TWh.

Pipeline gas will total 10.5 TWh in March, down 1 TWh from nominations, and in March will remain steady at 10.7 TWh nominated.

Storage withdrawals will total 1 TWh in March, down 30% from nominations, with the injection season due to commence in April.

Enagas said it sees gas demand of 33.6 TWh in March, revised down from 34.2 TWh. Demand in April is set to fall to 28.2 TWh due to seasonality.

Underground storage volumes are set to end the winter at 24.0 TWh, equivalent to 72% full, while LNG stored in tanks will total 14.7 TWh, equivalent to 63% full, with 4.7 TWh due to be added during March.

For April, LNG tanks will be further boosted to 16.8 TWh by the end of the month, according to nominations, equivalent to 72% full.