We'll be back with the storage numbers after the more granular Weekly Update is released this afternoon.
And as an example of the excess of supply, from Reuters, November 19:
Pavilion cancels U.S. LNG cargo loading as market faces oversupply
Singaporean gas importer and marketer Pavilion Energy has taken the unusual step of cancelling the loading of a liquefied natural gas (LNG) cargo from the United States, but has agreed to pay for it, several industry sources told Reuters.
The global LNG market is awash with new supply amid slowing demand in key countries such as China and Japan, leaving some traders with cargoes they have bought but are unable to resell.
“Pavilion Energy evaluated scheduling and other commercial matters, then took the decision not to lift the cargo in full coordination with the supplier,” a spokeswoman for the company, which is owned by Singapore’s sovereign wealth fund Temasek Holdings [TEM.UL], told Reuters on Tuesday.
She declined to provide further details of the LNG cargo, which industry sources said Pavilion was supposed to load from the Cameron LNG plant in Louisiana in the United States in November.
Pavilion has a long-term supply deal with Japan’s Mitsubishi Corp to buy LNG from the Cameron plant, which is operated by Sempra Energy.....MUCH MORE
A Mitsubishi Corp spokesman declined to comment....
This event pounds home a point we've been making for a few months now, here's the October 19 iteration:
EIA Natural Gas Weekly Update, October 17, 2019
LNG has become more of a factor in the Thursday storage numbers, to the point that the timing of just one or two ships will change the injection/withdrawal numbers.
It makes life interesting....
And a few more in: "The U.S. Just Doubled Its Natural Gas Exports"
