--DES Northeast Asia

DES Northeast Asia prices dropped last week. A sense of ample supply was seen mainly in prompt cargoes. Sakhalin Energy from Russia had conducted a sell tender for a cargo to be loaded on Feb 17. The tender was closed on Dec 12. In addition, end-users in China like China National Offshore Oil Corp (CNOOC) moved to sell their surplus cargoes. However, market sentiment was not weak as end-users in South Korea started moving to buy while Malaysia's state-run Petronas refrained from selling spot cargoes.

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

DES South Asia and Middle East softened last week. Ample availability was seen as Oman LNG was moving to sell 60 cargoes to be loaded in the year 2021-2025 while Egyptian Natural Gas Holding Co (EGAS) was moving to sell cargoes to be loaded in 2020 through individual negotiations. As for buying interests, strong demand was seen from India. However, supply/demand fundamentals remained loose as demand from the Middle East was limited.

--FOB Atlantic, DES Europe and South America

Two cargoes were awarded in buy tender closed on Dec 11 by GAIL (India) Ltd. GAIL was selling cargoes to be loaded from the 22.50mil mt/year Sabine Pass project and the 5.70mil mt/year Cove Point project in the US during 2020-2021. On the other hand, supply from the US increased with the 2.50mil mt/year Elba Island project and second liquefaction train at the 15.00mil mt/year Free Port project starting commissioning works. Meanwhile, Turkey's state-run Botas had issued buy tender for 30 cargoes to be delivered during December to March 2020.