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Weekly SummaryInternational/Markets

LNG: Nov 25-29: NE Asia market softens amid loose supply/demand with ample availability

--DES Northeast Asia
DES Northeast Asia prices slightly dropped for prompt timings. Several players were actively marketing January delivery cargoes. The Korean government decided to shutdown several coal power plants in December to February. 8 to 15 coal power plants would halt operations and power stations that would continue operating would run at less than 80%. Power stations to be shutdown included two old plants, one to five power plants under maintenance and five to eight other power plants. Details as to which plants would be shut down would be announced at a later date.

--FOB Middle East, DES South Asia and the Middle East
DES South Asia and Middle East softened last week. Gujarat State Petroleum Corp Ltd (GSPC) closed a buy tender on Nov 27 for a late December delivery cargo for the 15.00 mil mt/year Dahej terminal. GSPC secured an early January delivery cargo at $5.20-5.30 through a tender closed on Nov 20. GSPC this time moved to procure a cargo for an earlier timing than the previous tender.

--FOB Atlantic, DES Europe and South America
Angola LNG issued an additional DES sell tender closing Nov 28 for a cargo from the 5.50 mil mt/year Angola project to be delivered during Dec 27-Jan 17. Delivery to Northeast Asia was possible. Angola LNG also moved to sell a cargo for delivery Dec 19-Jan 8 via a tender closed on Nov 26. At the Angola project, production was halted temporarily in August and October for regular inspections but this year, Angola LNG had been selling 300,000-400,000mt a month including long-term cargoes to European traders Glencore and Vitol, and RWE.
Tokyo : LNG Team  M Fukami   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.