--DES Northeast Asia

End-users including utilities showed no sign of entering discussions in a haste. With the backwardation structure in DES Northeast Asia prices, end-users apparently concluded it would be more rational to defer purchases as late as possible. A source at an Asian trader said, "End-users can buy April deliveries if prices are low, but they are fine with May deliveries too." A source at an East-Japan based utility also said, "February sees unseasonably warm weather from mid-month onward," leading to weak actual demand and no plans for spot procurement at this time. Elsewhere, in Tohoku, although the 1,000MW No2 unit at the Haramachi coal-fired power station continues to suffer operational issues, heavy snowfall has reportedly suppressed gas demand for power generation by boosting hydroelectric output. Conversely, some areas in Kanto saw reduced solar power generation due to snow accumulation, leading to stronger demand for gas-fired power generation instead.

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

Indian state-run Hindustan Petroleum Co Ltd (HPCL) floated a buy tender on a DES basis. Through the tender, HPCL was looking for a cargo to be delivered to the 5.00 mil mt/year Chhara terminal on Apr 1-7. The closing date was unclear.

--FOB Atlantic, DES Europe and South America

Turkey's state-run Botas floated a buy tender on a DES basis. In the tender closing on Feb 26, Botas called for a combined two cargoes for delivery to Turkey, or one cargo each for first-half March and second-half March. Botas invited offers both on a floating basis linked to the TTF quotations and fixed price basis.