India LNG Tanker Makes it Through Strait of Hormuz

---

Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

---

Summary

Natural gas markets may be breathing a sigh of relief already with India seeing the safe passage of a vessel laden with LNG moving through the Strait of Hormuz.

---

A vessel laden with liquefied natural gas (LNG), the Disha, had safely crossed through the 104-mile Strait of Hormuz, according to news media reports on Monday. It was the first such vessel to make the crossing since the announcement of a memorandum of understanding (MOU) on a truce between the United States and Iran, according to news media accounts. The vessel was bound for a regasification terminal in India.

U.S. President Donald Trump announced on Sunday that an agreement had been reached with Iran, and that the strait would reopen to shipping. But the reopening is technically dependent on the signing of a memorandum of understanding in Geneva, Switzerland, on Friday, June 19. Potential Israeli airstrikes on Beirut could dampen the Friday handshakes.

As an aside, in a European natural gas market struggling through the current energy crisis, the price at the Dutch Title Transfer Facility (TTF), a European benchmark for the wholesale price of natural gas, was down 9% at the Monday close on Wall Street.

Meanwhile, crude oil prices on Monday had plummeted on the news of the agreement, with the global benchmark Brent shedding 4.5% to close at $83.26 per barrel, nearly 25% below war-time peaks. For more information, see June 15, article - Oil Prices Collapse on Middle East Understanding.

---

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).