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LNG Ships Accrue Off Argentina as Demand Misses Estimates

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Ships loaded with liquefied natural gas are lining up off the coast of Argentina after the government overshot winter orders, with a lack of storage facilities forcing the nation to pay daily fees to each vessel.

The Polar Spirit, Iberica Knutsen and Arctic Spirit -- scheduled to unload gas cargoes on Sept. 23, 27 and 30, respectively -- remain anchored in Escobar port near Buenos Aires, ship transmissions captured by IHS Fairplay on Bloomberg show. Further south at Bahia Blanca, the Lobito and British Ruby are yet to dock, missing their respective Oct. 1 and Sept. 29 unloading dates, the data show.