--DES Northeast Asia
DES Northeast Asia prices were mixed. While the prompt market rose, the forward market slipped. For prompt timing, demand emerged from Japan and China. Tohoku Electric Power in Japan closed a buy tender on Friday for one cargo for late October delivery. Tohoku Electric Power was actively purchasing, having bought one cargo for early October delivery via a tender closed on Sep 2. Further, Korean end-users were seen to be buying and supply/demand fundamentals tightened.
On the other hand, availability was ample. Malaysian state-owned Petronas closed a DES sell tender on Wednesday for a cargo from the Gladstone project in Australia to be delivered to Northeast Asia during Nov 1-3. Further, PNGLNG in Papua New Guinea also closed a sell tender on Wednesday for loading on Oct 19 on an FOB basis or delivery during Oct 28-31 on a DES basis. Apart from this, Brunei LNG apparently conducted a sell tender on an FOB or a DES basis. On an FOB basis, loading was on Oct 22 while on a DES basis, delivery was on Oct 29-30.

--FOB Middle East, DES South Asia and the Middle East
DES South Asia market surged. Demand emerged and supply/demand fundamentals tightened. For delivery to India, besides RIL, Indian Oil Corporation (IOC) also moved to buy. IOC closed a buy tender on Tuesday for delivery to the 17.50 mil mt/year Dahej terminal on Oct 9, and another buy tender on Wednesday for a cargo for delivery Sep 10-Oct 5 to the 5.00 mil mt/year Ennore terminal. Pakistan LNG (PLL) opened a buy tender Wednesday for a Nov 8-9 delivery and a Nov 18-19 delivery cargo for the GasPort terminal. In Pakistan, economy recovered and gas demand was brisk for power generation, transportation, production of fertilizer and ceramic although impact of the COVID-19 remained.

--FOB Atlantic, DES Europe and South America
DES Europe prices softened. European gas markets such as the Netherlands' TTF and Britain's NBP continued to drop and this pulled down the LNG spot market as well. In Europe, gas demand seemed to be declining. This month, the pace of natural gas stockbuilding at underground storages dropped sharply. Stock levels at storage facilities exceeded 90% of capacity, making it difficult to store natural gas at the same pace as before. Further, emission credit prices were falling at the moment, causing demand for gas which has lower carbon dioxide emission to decrease.