Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC

GLOBAL LNG-Asian spot prices slip on more supply from Malaysia, U.S.

Asian spot prices for liquefied natural gas (LNG) slipped this week as supply from Malaysia returned after a brief hiccup, though traders were keeping an eye on potential demand during a colder-than-expected winter in Northeast Asia.

The average LNG price for January delivery into Northeast Asia was estimated at about $6.40 per million British thermal units (MMBtu), down 10 cents from the previous week, industry sources said.

The price for cargoes delivered in December was estimated to be about $6.70 per mmBtu, down 10 cents to 20 cents from last week, they added.

Temperature in Beijing and Seoul is expected to be lower than average over the next two weeks, weather data from Refinitiv Eikon showed.

Loadings from the Bintulu plant in Malaysia are returning to normal after a brief disruption recently, traders said. This combined with record high exports of the super-chilled fuel from the United States were capping prices, they added.

U.S. LNG shipments to China, for instance, are expected to hit a record high in November, shiptracking data from Refinitiv Eikon showed.

Several sell tenders were issued this week with Nigeria LNG offering 11 cargoes for loading in 2021, while Russia's Novatek offered five cargoes for delivery into Europe next year, industry sources said.

Indonesia's PPT Energy offered 30 cargoes for loading from the Bontang plant over 2021 to 2023, while Russia's Sakhalin Energy offered 36 cargoes for loading between April 2022 and March 2025, they added. Angola LNG also offered a spot cargo for loading in December.

In buy tenders, India's Gujarat State Petroleum Corp (GSPC) and Indian Oil Corp were looking for a cargo each for delivery in January, while Gail (India) issued a swap tender to buy and sell a cargo over January to February, sources said. (Reporting by Jessica Jaganathan in Singapore and Sabrina Valle in Rio De Janeiro; Editing by Subhranshu Sahu)

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


Editorial Comment
-Adrienne Blume
Between mid-2019 and mid-2020, the amount of LNG terminal capacity in construction around the world more than doubled.
Executive Viewpoint: Excelerate Energy sees huge new-market potential for FSRUs
-Cal Bancroft
Excelerate Energy is a pioneer and market leader in floating LNG regasification solutions.
Executive Viewpoint: Midstream seeks cost-effective, “fit-for-purpose” solutions amid downturn
-Gregory L. Hall
BCCK Holding encompasses BCCK Engineering Inc., an international natural gas engineering company specializing in nitrogen rejection, nitrogen rejection for landfill gas, NGL recovery, CO2 removal, helium recovery, skidded LNG plants and oxygen removal.
Regional Focus: The role of small-scale LNG in Russia’s energy agenda
-Lorenzo Micucci, John Motta
A number of factors are challenging Russia’s position in the energy markets: the change in the global natural gas landscape, the abundance of gas, expanding LNG trade, and the increased interconnectivity among pipeline systems that makes possible reverse flows.

GasPro 2.0: A Webcast Symposium

View On-Demand

Following the successful GasPro Webcast Symposium in October 2019, the third GasPro Webcast Symposium will take place on October 21, 2020.

The 2019 webcast drew attendees from around the world, with more than 80% of the audience working in company management or engineering divisions.

The 2020 web event will gather experts in the fields of LNG, gas processing and process safety to share market, operations and engineering technology and trends with our audience.

Attendees of the 2020 webcast will learn about market solutions and technology deployments in a number of areas: LNG delivery infrastructure, small-scale desulfurization for NGL, H2S removal for gas treating, process safety for safety instrumented systems, small-scale LNG project design, and advances in freeze component removal for LNG.

October 21, 2020 08:30 AM CDT

View On-Demand


Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2020 Gulf Publishing Holdings LLC.