Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



GLOBAL LNG-Asian spot prices rise on expected colder weather

Asian spot prices for liquefied natural gas (LNG) rose to their highest in more than 11 months this week, underpinned by expectations that an anticipated cold winter will stoke demand for the fuel used in heating.

The average LNG price for December delivery into northeast Asia <LNG-AS> was estimated at $5.80 per million British thermal units (mmBtu), up 10 cents from the previous week.

The price for November delivery was at around $5.70 per mmBtu, up 20 cents from last week, trade sources said.

Taiwan's CPC Corp closed a tender earlier this week to buy 12 cargoes for next year, while South Korea's Posco bought a cargo for delivery in the second half of November, traders said.

Japan's Kansai Electric and Japex were seeking a cargo each for mid-December delivery while China's Guangzhou Gas was also seeking a cargo for delivery in late December, they said.

Kuwait Petroleum Corp bought a cargo for mid-November delivery at about $5.70 to $5.90 per mmBtu, one source said.

In Pakistan, Gunvor Singapore s offered the lowest bid for the delivery of one cargo in November at 13.8699% slope of Brent, an official said on Thursday.

Bangladesh is also expected to double its imports of LNG from December on rising demand, two energy officials said.

On the sell side, Royal Dutch Shell said on Thursday its Prelude floating LNG project off Australia, offline since early February, is working on restarting operations but would not resume full production this year.

Australia's GLNG may have sold a cargo for late November loading at about $5.20 to $5.50 per mmBtu on a free-on-board basis while BHP Billiton likely sold a Nov. 21-23 cargo at about $5.40 to $5.60 per mmBtu, sources said.

Angola LNG had a sell tender this week for a cargo to be delivered to as far as Indonesia, they added.

Egypt's Idku plant is expected to resume LNG production after a three-month hiatus, Kpler said. (Reporting by Jessica Jaganathan; Editing by Aditya Soni)


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Lee Nichols
Modern society would not be possible without the use of pipelines to transport natural gas, crude oil and finished products to demand centers.


Optimizing Gas Distribution: Accounting for Changeovers, Regulators, and More

Register Now

Gas distribution systems are critical to the effective operation of many industrial facilities around the world. Despite the importance of these systems, however, opportunities to improve their performance and cost-effectiveness are often missed or misunderstood. Increasing changeover pressure may seem like a good way to improve system flow, for example, but it often does so at the expense of bottled gas. Adding regulators may help you control supply pressure, but it also adds cost to your system. So, how do you know what the ideal gas distribution setup is for you?

Attend this webinar to:

  • Gain a basic understanding of the fluid dynamics that affect pressure control in gas distribution systems, learning to interpret flow curves and recognize phenomena like lockup, droop, and supply pressure effect (SPE)
  • Learn how inlet pressure affects regulator performance and when to specify certain regulator types and configurations to effectively control gas system pressures

Understand the inherent trade-offs between gas utilization and flow capacity and how to select both the right changeover pressure and automatic changeover panel design for your operations.

May 4, 2021 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2022 Gulf Publishing Holdings LLC.