Britain’s Grain LNG terminal surpassed its own record for a single day’s LNG exports by more than 100 GWh
On 14 November 2019, the terminal exported 698 GWh of LNG gas, the highest ever amount of gas exported in a single day from any European terminal into the UK network.
The amount represents around a quarter of UK gas demand, enough to supply gas to all of London and the South East. At present, the terminal has capacity provide up to 25% of the UK’s gas demand, annually.
The record is part of a broader trend of rising demand for LNG from key market players at the terminal over the last year.
Nicola Duffin, Commercial Manager for Grain LNG, said: “UK gas demand is actually only slightly higher than what we’d normally see this time of year. The record activity is due to a global LNG oversupply, which has seen significantly more cargoes head for North West Europe. As a result, we’ve seen a sharp increase in demand for capacity at the terminal. We expect utilisation will remain high throughout the Winter and beyond. This is good news for UK consumers, who will benefit from more secure and more competitively priced gas supplies.”
The terminal offers market participants direct access to the UK’s NBP (National Balancing Point), one of the world’s leading gas trading hubs. Last week, Grain LNG announced an ‘open season’ process for customers interested in buying capacity from 2025. The terminal is seeking industry feedback on a new service proposal during an initial consultation phase between now and 10 January 2020.
By 10 March 2020, buyers on the market will have the opportunity to place legally binding bids for the capacity. Grain LNG is expecting to allocate capacity by the end of March 2020.
The open season offers market participants an opportunity to secure capacity, following the expiration of the long-term contracts that constituted the original development of the terminal when it was commissioned in 2005.
Grain LNG is situated on the Isle of Grain in the Thames estuary, 37 Miles (60 kilometers) east of London.
Grain LNG’s Goke Phillips, Technical Development Manager, National Grid and Paul Ocholla, Commercial Advisor, National Grid will be speaking and taking part on panels at Riviera’s LNG Ship/Shore Interface Conference Awards & Exhibition in London on 28-29 November 2019.