--DES Northeast Asia

In the DES Northeast Asia market last week, the front delivery contract gained to around $13.50. The supply disruption from gas fields in Norway pushed the Netherlands' TTF prices, which in turn raised prices in the DES Northeast Asia. Amid this, trades by European Trafigura stood out in the market.

Trafigura bought a Dec 8-10 delivery cargo from British BP at $13.85 on Oct 23. Trafigura had bought a Dec 20-22 delivery cargo from British Shell at $13.40 on Oct 22. In addition to Trafigura, the number of buyers that were interested in covering short positions was gradually increasing. European Glencore showed a bid for first-half December delivery at a discount of 20cts to the December contract of DES Northeast Asia spot quotations.

Taiwan's CPC Corp issued a tender that closed on Oct 22 to buy three cargoes for Dec 1-3, mid-December and second-half December delivery. A Japanese company reckoned that the Dec 1-3 delivery cargo was awarded at a premium of 2-5cts to the December contract of DES northeast Asia spot quotations. It was unclear whether two other cargoes were awarded or not.

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

ADNOC Gas in the United Arab Emirates (UAE) issued an FOB sell tender that would close on Aug 24. Through the tender, ADNOC gas planned to sell one cargo for Dec 2-4 loading from the 5.80 mil mt/year Das Island project. Sources speculated that end-users in South Asia and Northeast Asia might purchase the cargo.

--FOB Atlantic, DES Europe and South America

The Sleipner gas field in Norway has been stopping its operation since Oct 22. Initially, its repair work was expected to have finished by Oct 24 but extended to Oct 28. In correspond to this, gas supply to Europe has been weak for a while according to its outage period.