First LNG cargo from new U.S. plant does U-turn for Britain

LONDON (Reuters) - The first liquefied natural gas (LNG) cargo exported from a new plant in the United States at Cove Point will arrive in Britain later this month as Asian spot LNG prices weaken relative to European benchmarks.

The Gemmata tanker is expected to arrive at the UK’s Dragon terminal on March 20, according to the local port authority at Milford Haven.

As Asian spot LNG prices weakened, the tanker performed a U-turn in the middle of the Atlantic this week away from Asia and towards Europe, shipping data shows.

Royal Dutch Shell is responsible for shipping test cargoes from the newly built plant in Maryland.

Cove Point is the second biggest LNG export terminal in the lower 48 U.S. states after Cheniere Energy Inc’s Sabine Pass terminal in Louisiana, which exported its first cargo in February 2016.

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