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Cheniere preparing to load second LNG cargo from Sabine Pass: sources

London — The Cheniere-operated Sabine Pass LNG terminal in Louisiana is preparing to load its second cargo, market sources said Friday.

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The facility is understood to be taking more feed gas than in the previous week, indicating that the facility has restarted liquefaction.

"[Gas flows to the plant] were almost zero for a few days and have increased substantially in the last three days," one source said.

Another source said deliveries had ramped up to 200,000 MMBtu/d.

The Cheniere-controlled 162,000 cm m Clean Ocean is in a holding pattern off the Louisiana coast, according to cFlow, Platts trade-flow software. The vessel started moving toward the coast March 10 after lingering in the Gulf of Mexico since the start of the month.

Loading is expected to commence this weekend, according to one of the earlier market sources, with a source close to the issue confirming that loading will take place within the next week.

Cheniere loaded the first cargo from Sabine Pass between February 21-25. The cargo is on board the 160,000 cu m Asia Vision and headed toward Brazil's Guanabara Bay LNG terminal.

The cargo was sold to Brazil's Petrobras and was heard to have been sold for a delivered price similar to the equivalent NBP forward contract, market sources said.

After the loading of the first cargo, the facility was taken offline so that checks could be carried out. This is understood to have lasted about two weeks, and "went smoothly," according to a source close to the matter.

Cheniere is expected to export eight to 10 cargoes over March and April, most of which have been committed to buyers, according to market sources. After the commissioning of the first train is complete, most of its offtake volumes are expected to go to BG, which has a long-term contract for volumes on a FOB basis.

Cheniere did not respond to a request for comment.

--Luke Stobbart,
--Edited by Jason Lindquist,