🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

GLOBAL LNG-Prices inch higher, buoyed by purchase from Japan's Tohoku

Published 02/09/2017, 02:55 am
Updated 02/09/2017, 03:00 am
© Reuters.  GLOBAL LNG-Prices inch higher, buoyed by purchase from Japan's Tohoku
NG
-

By Oleg Vukmanovic and Mark Tay

LONDON, Sept 1 (Reuters) - Asian spot LNG prices for October delivery edged up by 5 cents this week, buoyed by a spot purchase by Japan's Tohoku Electric.

Healthy inventories meant that Japanese utilities generally showed restraint in their appetite for LNG, but they were still willing to consider competitive offers, one trader said.

Power utility Tohoku paid between $6.20 and $6.30 per million British thermal units (mmBtu) for an October cargo.

Spot prices LNG-AS for October delivery rose 5 cents to $6.10 per million British thermal units (mmBtu).

October is regarded as a shoulder-month in Asia with activity winding down as demand drops off.

However, some demand emerged from Taiwan's state-run CPC for a January cargo, while traders also cited potential interest from some private South Korean importers, not including Korea Gas Corp (KOGAS), with a tender expected soon.

A maintenance shutdown of train three at Cheniere Energy's Sabine Pass liquefaction plant appears not to have affected demand from KOGAS, the main taker of train three volumes, traders in Asia said.

However, overall loadings from Sabine Pass in Louisiana were delayed by at least three days because of disruption caused by Hurricane Harvey, shipping data showed. supply could come available from Australia and Papua New Guinea, traders said.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Global natural gas & LNG prices

http://reut.rs/2uXZJCq Global LNG supply vs demand

http://reut.rs/2sJ47UQ

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.