1
CAPTURE
Trade Created
BUY
3,200,000 MMBtu at JKM+$0.50 DES Jun-26 from Shell Trading
Trade Reference
BUY-2026-0411-A3F
Counterparty
Shell Energy Trading
Volume
3,200,000 MMBtu
Pricing
JKM + $0.50/MMBtu
Delivery Terms
DES Jun-2026
2
APPROVAL
Trade Approved
Credit check: PASS ($22M headroom)
Position impact: JKM Jun-26 3.2M → 6.4M Long
3
NOMINATION
Cargo Nominated
Vessel: Al Dafna (Q-Max, 266,000 m3)
Laycan: 1–15 Jun 2026
ETA Load: 3 Jun — ETA Discharge: 16 Jun
4
LOADING
Cargo Loaded — B/L Issued
B/L Quantity: 3,198,450 MMBtu
Quality: GHV 1,048 BTU/scf (contract: 1,050)
-0.19% deviation
Loading port: Sabine Pass LNG, Louisiana
5
VOYAGE
In Transit → Sodegaura, Japan
Current position: 28.5°N, 142.3°E (Pacific Ocean)
Speed: 19.2 knots — ETA: 17 Jun 2026
BOG estimate: -1,550 MMBtu (0.048%)
Live tracking — Last AIS update: 11 Apr 14:22 UTC
Departure
5 Jun, Sabine Pass
Destination
Sodegaura LNG Terminal, Japan
Distance Remaining
2,840 nm
Weather
Fair — Tropical storm risk: Low
6
DISCHARGE
Pending Discharge
Expected outturn: 3,196,900 MMBtu
Transit loss estimate: 1,550 MMBtu (within 0.1% tolerance)
Discharge port: Sodegaura LNG Terminal, Japan
Expected: 17 Jun 2026
7
SETTLEMENT
Pending Settlement
Provisional invoice: $45,578,025
Estimated final: $45,453,862 (quality adj: -$124,163)
Pricing Date
JKM Jun-26 settlement
Base Price
$14.25 + $0.50 = $14.75/MMBtu
Provisional Amount
$45,578,025
Quality Adjustment
-$124,163
Final Amount
$45,453,862
8
P&L
Estimated Realized P&L
Total estimated: +$1,120,000