--DES Northeast Asia

In the DES Northeast Asia market last week, the front delivery rose to around $14.15. Amid a decreasing trend in natural gas inventory in Europe, a possible halt of Russian gas supply to Austria pushed the Netherlands' TTF market up. As a result, the DES Northeast Asia market was pulled up as well.

Despite the rise in prices, spot supply was plentiful. Australian Santos closed a DES sell tender on Nov 14 for a cargo from the 8.30 mil mt/year Papua New Guinea project to be delivered to Northeast Asia on Dec 28-30. Moreover, British Shell, Marubeni Corp and US Freepoint offered second-half December delivery at fixed prices or a discount of 5-15cts to the January contract of DES Northeast Asia spot quotations. A Japanese energy utility reckoned that low freight costs enabled sellers to wait for their tankers to discharge and they could postpone selling cargoes,

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

Indian state-run GAIL floated its DES buy tender to be delivered to the West Coast of India that would close on Dec 4. GAIL planned to purchase one cargo per month for five years from April 2025 to March 2030. The company apparently requested sellers to submit offers based on the US Henry Hub (H.H.) natural gas market. The validity was on Dec 5.

--FOB Atlantic, DES Europe and South America

Following central Brazil, where it has been raining recently, Colombia has been hit by heavy rain, experiencing flooding in some parts of the country. However, "the reservoir water in dams has not recovered yet, which means supply of power is not improving either. Solid LNG demand from Colombia can be expected for a while" (a Japanese company).