--DES Northeast Asia

　 As for supply, European Vitol offered second-half December delivery at a premium of 5cts to the December contract of DES Northeast Asia spot quotations. German SEFE indicated an offer at a premium of 20cts to the January contract of the quotations but it imposed conditions on quantity. Apart from that, PetroChina and China National Offshore and Oil Co (CNOOC) had interest to sell prompt first-half December delivery. Some state-run energy companies in China were seen to have bought a lot of spot cargoes in October in preparation for the peak demand winter season. However, an Asian trader stated, "The truth is that they repeatedly and occasionally buy and sell spot cargoes, and now is the situation where even buyers can feel advantage if they can sell long-term cargoes at high prices."

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

　 A swap tender closed on Oct 29 by Indian state-run GAIL was awarded. Through the tender, GAIL bought a cargo for Dec 1-25 delivery to the 22.50 mil mt/year Dahej terminal at 115% of US Henry Hub (HH) prices plus $3.00 and above as constant on a DES basis while it sold a cargo for Dec 29 loading from the 30.00 mil mt/year US Sabine Pass project at $115% of HH prices plus $3.00 as constant. A Japanese analyst stated, "As transportation costs between the US and Iran are about $3.00, it sounds reasonable if a total of $6.30 and more was added to the price where GAIL bought." The procurement cost could be estimated at about $9.70 if it was based on the HH market as of Oct 29.

--FOB Atlantic, DES Europe and South America

　 According to a report released by the US Energy Information Administration (EIA) on Oct 29, while Colombia's proven natural gas reserves decreased by 39% between 2022 and 2025, LNG imports increased year by year, and by July 2026, the country appeared to be relying on LNG imports for 31% of its monthly natural gas supply. However, the country currently has only one import terminal--the 2.9 mil mt/year Cartagena terminal--making the construction of new LNG terminals an urgent priority to address the energy shortage. On the Pacific coast, the Buenaventura terminal is scheduled to begin operations in November, while the Puerto Bahia terminal, located near the Cartagena terminal, is set to begin operations next year at earliest.