Gladstone LNG to Offer Multiple Commissioning Liftings
Australia's Gladstone liquefied natural gas (LNG) production plant coming on stream in September is expected next week to offer up to six commissioning cargoes for sale between October and December, trade sources said.
Gladstone LNG, led by Australia's Santos, expects to begin loading tankers in late September, which traders say will be sold to market participants until its long-term delivery obligations begin.
Once online, the production facility will go through a commissioning period during which equipment and production processes are tested, until the plant can be declared commercial.
"Thy are looking to offer about two cargoes per month, and they should send out invites (for the supply) on Monday or early next week," one trader said.
Commissioning cargoes are subject to loading delays, however, if equipment does not meet certain performance standards, or even cancellation.
Reporting by Oleg Vukmanovic