Bloomberg: LNG Arrivals, Warm Weather Push U.K. Gas to Lowest Since 2010

U.K. natural gas futures fell to the lowest level in more than three years on constant arrivals of tankers carrying the liquefied fuel amid rising inventories and forecasts for warmer-than-usual weather this week.

Front-month gas in the U.K., a European benchmark, tumbled 3 percent on the ICE Futures Europe exchange to the lowest since Sept. 28, 2010. Two LNG tankers coming from Qatar, the world’s largest producer, are scheduled to dock at British ports this week, according to ship-tracking data on Bloomberg and information from port authorities. Two more tankers already unloaded in the U.K. this month and another nine in April.

Storage facilities in the U.K. were 63.7 percent full as of yesterday, the highest level for this time of the year since at least 2007, after the mildest winter in seven years cut demand for the fuel used in heating, according to data from Gas Infrastructure Europe, a Brussels-based lobby group.
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