--DES Northeast Asia

In the DES Northeast Asia(NEA) market last week, the front delivery fell to around $13.05. Prices dropped on the weak Netherlands' TTF market, where the receded geopolitical risk over the Ukraine war worked as a bearish sentiment, as well as weak demand from NEA.

In Japan, with the arrival of the off-demand season, wholesale power prices have been hovering low. "Currently, limited merit in purchasing spot cargo," a Japanese power company said. In Imabari City, Ehime Prefecture, wildfires affected the regional power supply/demand balance. Upon the wildfire, Shikoku Electric Power Co (YONDEN) halted power supply to Honshu Island. As a result, the power supply/demand balance in Shikoku Island has loosened and then possibly reduced YONDEN's LNG demand further. In China, lorry LNG prices have fallen to around $12.00, stimulating LNG unlikely unless the DES NEA market hovers lower than the level.

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

Buying interests from India is dull. "Many end-users regard the current spot prices as too high. Ample inventory of coal, which is cheaper compared with LNG, is allocated to the power generation," a Japanese company said.

--FOB Atlantic, DES Europe and South America

The fall in the European gas market was associated with the expectation of Russian gas supply resumption. The US on Mar 25 announced that Russia and Ukraine agreed to not attack energy facilities as well as not exercise military actions to ensure the safety of the shipment in the Black Sea. Russia, however, argued the agreement would come with relaxing the sanctions against it.