The UAE is set to receive another condensate cargo from fellow Opec-member Equatorial Guinea this month—its third so far this year, reflecting the continued the diversification of condensate intake into the Jebel Ali refinery in recent months.
The Aframax tanker Stellata set off from Equatorial Guinea’s Punta Europa terminal on 27 November, and is broadcasting its destination as Jebel Ali, the site of Dubai government-owned Emirates National Oil Company’s (Enoc)’s 140,000 b/d refinery. The tanker is estimated to arrive around 22 December.
Jebel Ali diversified its source of imports in recent months, amid higher domestic consumption of South Pars condensate by previously dominant supplier Iran, and the re-imposition of US led sanctions on the latter country.
Since June, arrivals to Jebel Ali directly have included rarer inflows from countries such as Algeria, Equatorial Guinea, Australia, Russia and the US.
A condensate cargo loaded from Libya’s Mellitah terminal aboard Pacific Sarah also arrived to Jebel Ali in mid-November, another unusual flow.
Punta Europa-loaded condensate arrived at Jebel Ali refinery in mid-July, and again in mid-August, in what were the UAE’s first observed imports of condensate from Equatorial Guinea in at least several years.
Around 75pc of observed exports from the terminal headed to Asia-Pacific so far this year, and the remainder to the UAE, with another cargo moving to Mossel Bay, South Africa. The share to Asia is up from 60pc last year, when around a quarter headed to Africa and the rest to Brazil.