EMEA News
QatarEnergy Halts LNG Production After Attacks
QatarEnergy - responsible for about 20% of the world's LNG output - has halted LNG production in response to an Iranian attack on its facilities.
The company has ceased production of LNG and associated products, it said in a press release on Monday.
"Due to military attacks on QatarEnergy's operating facilities in Ras Laffan Industrial City and Mesaieed Industrial City in the State of Qatar, QatarEnergy has ceased production of liquefied natural gas (LNG) and associated products," the company said.
"QatarEnergy values its relationships with all of its stakeholders and will continue to communicate the latest available information."
The wording of the statement is unclear as to whether production will be halted at all LNG facilities, or just a limited number of production trains. Ras Laffan is the world's largest LNG plant, and a shutdown of any scale there is a significant market event.
The Platts JKM Asian LNG benchmark jumped by almost 41% to $15.07/MMBtu on Monday.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 521.50 | 8.50 | 709.50 | 1.50 |
| Rotterdam | 489.50 | 9.50 | 720.00 | 2.00 |
| Houston | 494.50 | 1.50 | 710.00 | 4.00 |
| Fujairah | 519.50 | 10.00 | 777.50 | 3.50 |
| EMEA Average | 532.00 | 6.50 | 816.50 | 2.00 |
| Global 20 Ports Average | 543.50 | 7.00 | 797.50 | 5.50 |
| Global 4 Ports Average | 506.00 | 7.00 | 729.00 | 2.50 |
| Global Average Bunker Price | 576.00 | 3.00 | 829.50 | 2.00 |
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