--DES Northeast Asia

In the DES Northeast Asia market last week, the front delivery fell to around $12.40. A fall in the Netherlands' TTF market as well as tepid demand from Northeast Asia weighed on the prices.

In the spot market, Osaka Gas has placed a bid for mid-April delivery at a 30cts discount to the May contract on the NEA spot quotations. The bid from Osaka Gas might not come from trading but "inventory building because the delivery point is its Senboku terminal" (a Japanese company) was heard. Other end users, however, have not shown their appetites for cargoes. A city gas company in eastern Japan said, "Our city gas sales grow just around 2% year-on-year because sales from the industrial sector account for a large share and are not influenced by heating demand caused by cold weather."

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

The Indian state-run Gujarat State Petroleum Corp (GSPC) purchased cargo for delivery to the 5.00 mil mt/year Mundhra terminal on Apr 10-15 at $12.80-12.90 via a tender closed on Mar 4.

--FOB Atlantic, DES Europe and South America

Venezuelan Navy approached an oil field in the Stabroek where US ExxonMobil was developing offshore Guyana. A Japanese company pointed out, "Depending on the future situation, supply of associated gas and development of gas field may be affected."