Yemen LNG plans to shut one of its two liquefaction plants in June for maintenance, two people with direct knowledge of the work said.
The halt will last for less than a month, said the people, who asked not to be identified because the information is private. A Yemen LNG official in Sana’a asked not to be identified when reached yesterday by phone, citing policy.
LNG prices in Asia, the world’s biggest consuming region, rose to a record $19.70 per million British thermal units this month amid limited new supplies and as demand typically peaks in December through March. Yemen LNG supplies its biggest shareholder Total SA with fuel, as well as Korea Gas Corp. and GDF Suez SA, according to its website.
The company said on Feb. 9 it’s renegotiating gas contracts with buyers so they better reflect the current market.
Yemen LNG’s two plants, also known as trains, have a combined capacity of 6.7 million metric tons a year of the fuel, according to the company website. That’s equivalent to Austria’s annual demand for the fuel. The company shut its number 2 train last May for less than a month of repairs.