--DES Northeast Asia
DES Northeast Asia prices rebounded. Prices for mainly discussed first-half July delivery was at $2.50-2.60, up by 50-60cts from end-April. In addition to projects in Australia such as the 16.50 mil mt/year Gorgon project and 3.60 mil mt/year Prelude project, supply from several US projects was reduced. US Chevron, the operator of the Gorgon project, requested long-term customers to defer the intake of cargoes. A total of four cargoes were apparently affected. Major such as Chevron and Royal Dutch Shell that are operators of these projects had been buying cargoes mainly for June loading to cover the shortfall and market sentiment became stronger.

--FOB Atlantic, DES Europe and South America
Looseness in supply/demand fundamentals for DES Europe did not improve yet. Offers were constantly heard for cargoes from Nigeria, Angola, Trinidad and Tobago, the US and Russia in the Atlantic basin as well as the Middle East including Qatar. On the other hand, gas demand remained thin in Europe partly because of a rise in temperatures and partly because of the outbreak of COVID-19.

--FOB Middle East, DES South Asia and the Middle East
For DES Middle East, With temperatures in the Middle East rising, LNG demand began to increase slightly. Intake of LNG might increase in Jordan and Israel although only Kuwait Petroleum Corp (KPC) had been taking cargoes constantly. In Jordan, the daily highest temperature rose to close to 40 degrees Celsius and gas demand for power generation and air-conditioning use increased. Although demand could be met with pipeline gas from Egypt including the Zohr gas field, there was apparently a need to import LNG in summer. The 159,800cbm DFDE tanker "Maran Gas Efessos" finished discharging a cargo from the 10.50 mil mt/year Atlantic project in Trinidad and Tobago at the 3.80 mil mt/year Aqaba terminal in Jordan on Tuesday. Sources reckoned that the cargo was supplied by Shell to the Aqaba terminal operated by Jordan's National Electric Power Company (NEPCO) under a long-term contract.