RIM Market News >  Weekly Summary

LNG: Sep 2-6: DES Northeast Asia market unchanged with supply/demand balanced

2019/09/09 07:00

--DES Northeast Asia

DES Northeast Asia prices were unchanged last week. Supply/demand fundamentals were generally balanced. Prompt October delivery cargoes were gradually sold out. In addition, some Japanese, Chinese and South Korean end-users with tank space were moving to buy for the winter. Since the price difference between long-term contracts and spot cargoes was wide, portfolio players also had demand. On the other hand, supply of spot cargoes was ample. While supply was reduced from the 6.90 mil mt/year PNGLNG project in Papua New Guinea, there were spot cargoes available from Australia, Indonesia, Malaysia and Oman in the Middle East. Supply/demand fundamentals would unlikely tighten sharply.


--FOB Middle East, DES South Asia and the Middle East

Kuwait Petroleum Corp (KPC) closed a buy tender on Sep 4 for an Oct 22-29 delivery cargo for its floating storage and regasification unit (FSRU). KPC secured several spot cargoes this year through individual discussions. KPC conducted a buy tender for the first time since March, when the company carried out a tender for an April delivery cargo.


--FOB Atlantic, DES Europe and South America

The No.1 train of the 15.00 mil mt/year US Freeport project was likely to start commercial operations in end-September. LNG production from the project began on Aug 12 and the first cargo was shipped on Sep 3. The cargo was loaded on to the 155,300cbm tanker “LNG Jurojin”, which was chartered by France’s Total. The No.2 and No.3 trains were scheduled to start up in January and May 2020, respectively.  


Tokyo : LNG Team  N Yanagi  +81-3-3552-2411
Copyright©2019 RIM Intelligence Co. ALL RIGHTS RESERVED.
facebook      twitter

About SSL?