--DES Northeast Asia

DES Northeast Asia prices softened. Buying interest from end-users was extremely limited. In Japan, Taiwan and South Korea, it was a low-demand season for power when temperatures were falling and many end-users such as power companies had a certain level of stocks. Supply/demand fundamentals loosened due to with Siberian gas supply to China starting from Dec 1 and as sell tenders were issued from Ichthys LNG and Sakhalin Energy for December and January loading, respectively. On the other hand, state-owned Electricity Generating Authority of Thailand (EGAT) and Petroleum Authority of Thailand (PTT) had issued buy tenders.

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

FOB Middle East, DES South Asia and DES Middle East prices also fell last week. Market sentiment was weakened as ample availability was seen from Oman, Abu Dhabi, Egypt and Qatar while demand from end-users in the Middle East like Dubai and Kuwait was limited. Meanwhile, buy tenders were issued from India. Indian Oil Corporation (IOC) and Reliance Industries Limited (RIL) had conducted buy tenders for early December delivery cargoes. However, market sentiment did not turn stronger since several cargoes from various parts of the world were seen available to be offered into those buy tenders.

--FOB Atlantic, DES Europe and South America

FOB Atlantic and DES Europe and South America prices were steady last week. Planned maintenance was held at the 5.50mil mt/year Angola project. However, no tightness was seen in supply/demand fundamentals as state-run Nigeria LNG (NLNG) had issued a sell tender for a cargo to be loaded on Nov 10-11 at the 22.00mil mt/year Bonny Island project. Meanwhile, in South America, Argentina's state-run YPF had closed a sell tender for a cargo to be exported from the 500,000mt/year Tango FLNG project on Nov 6. The cargo was loaded to the 138,200cbm conventional tanker "Excalibur".