Argentina Scheduled to Get LNG Spot Cargo From Nigeria

Argentina, the second largest buyer of spot liquefied natural gas in the Americas, is set to get a cargo from Nigeria today, shipping data show.

The Lena River, with a capacity of about 155,000 cubic meters, is anchored off the coast of Bahia Blanca, southwest of Buenos Aires, according to ship transmissions captured by IHS Fairplay on Bloomberg. The vessel loaded the supercooled gas at Nigeria LNG Ltd.’s Bonny Island terminal and departed Jan. 22, the data show.

Argentina imports LNG through YPF SA, the country’s largest energy company, and state-run Energia Argentina SA, or Enarsa. Qatargas signed a “head of agreement” in 2011 to supply Enarsa with 5 million metric tons a year of LNG starting 2014, according to the Qatari company’s website. The accord expired on March 31, 2012 with “no binding agreement” between the companies, Qatargas said in an e-mailed statement today.

Argentina imported about 1.85 million tons of LNG in 2012 on a spot basis, according to data from the industry-funded International Group of Liquefied Natural Gas Importers.

(Corrects to show Argentina’s agreement with Qatar to buy LNG has expired in third paragraph of story published Feb. 11.)
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