YPF Said to Buy Spot LNG Supply From Statoil, Morgan Stanley

Argentina’s YPF SA bought two cargoes of liquefied natural gas from Statoil ASA and Morgan Stanley for delivery to Bahia Blanca in July, said two people with direct knowledge of the matter.

YPF booked the shipments last week as part of a spot purchase tender, according to the people who asked not to be identified because they aren’t authorized to speak to the media. Nobody answered two calls to the company’s main switchboard in Buenos Aires outside normal business hours. An LNG cargo is typically about 60,000 metric tons.

YPF last week closed Argentina’s seventh tender for this year to buy seven LNG cargoes for delivery to Bahia Blanca, southwest of Buenos Aires. The country has no long-term LNG-purchase contracts, according to data compiled by Bloomberg.

LNG spot prices for delivery to Northeast Asia over the next four to eight weeks dropped to $14.30 per million British thermal units, research company Energy Intelligence Group said on the website of its World Gas Intelligence newsletter on May 8. That’s down 3.1 percent from April 29. Shipments to Southwest Europe slid 3.7 percent to $11.75, according to WGI.

Comision Federal de Electricidad, Mexico’s state utility, will pay an average price of $15.84 per million Btu for 18 spot cargoes to be delivered over the next 18 months, the company said in an e-mailed statement yesterday.

Latin America’s LNG import capacity will increase to 49.2 million tons a year in 2020 from 30 million for 2013, Anton Safronov, Total SA’s LNG origination director, said May 9 in Singapore.

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