Large number of ships carrying LNG are circling off the coasts of Spain being unable to secure slots to unload
Over 35 LNG-laden vessels are wandering off Spain and around the Mediterranean, with at least eight vessels anchored off the Bay of Cadiz alone and if the backlog is not cleared soon those ships may start looking for alternative ports outside Europe to offload their cargo, as per sources.
MADRID, 17th Oct 2022 (The HQ News) – Large number of ships carrying liquefied natural gas (LNG) are circling off the coasts of Spain being unable to secure slots to unload.
The management/owners of these LNG suppliers have prompted grid operators for the country to warn they may have to suspend loading to deal with this “exceptional situation”.
Europe is facing an energy supply shortage as amidst Russia-Ukraine conflict the EU has banned energy purchase from Russian sources due to which the energy/utility bills prices have sky rocketed in the entire Europe and the supply is both scarce and mismanaged due to abrupt alternative options availed by the EU.
LNG is natural gas predominantly methane, CH4, with some mixture of ethane, C2H6 which has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state.
Over 35 LNG-laden vessels are wandering off Spain and around the Mediterranean, with at least eight vessels anchored off the Bay of Cadiz alone and if the backlog is not cleared soon those ships may start looking for alternative ports outside Europe to offload their cargo, as per sources.