--DES Northeast Asia

　 While Chinese buyers are believed to have completed their initial round of purchases, there still appears to be room for LNG and natural gas inventories to build up. However, end-users--including Chinese state-owned energy companies--appear reluctant to make purchases in the current spot market unless they receive instructions from the government, according to a market source. Market sources pointed out that if Chinese buyers move to procure large volumes on the spot market, the risk of rising DES Northeast Asia prices will increase.

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

　The company also closed a separate buy tender for one Sep 1-30 delivery cargo on Aug 21. Elsewhere, state-owned Gujarat Petroleum Corp (GSPC) purchased one Sep 5-18 delivery cargo at $23.50 in a tender closed on Aug 20. Meanwhile, state-owned Bharat Petroleum Corp (BPCL) purchased one Aug 24-25 arrival cargo at $22.30 in a tender seeking four cargoes, but the remaining cargoes were all unawarded. A total of three cargoes for Sep 1-2, Sep 7-8 and Sep 12-14 delivery were all unawarded in the tender.

--FOB Atlantic, DES Europe and South America

　Argentina's Escobar terminal, with an annual receiving capacity of 6.1 mil mt/yr, has so far received three partial cargoes since the beginning of August. Due to a slower import pace compared to the same month last year, the country's state-run ENARSA may be requesting sellers to delay or cancel delivery of spot-procured cargoes. In late August last year, the company had delayed or had canceled intake of some cargoes by paying penalties, seeing that demand had fallen below prior expectations.