2019-07-12 07:40:00
LNG PRICE: NEAR $4.5
REUTERS - Asian spot prices for liquefied natural gas (LNG) held steady this week, with traders looking for signs of potential demand ahead of winter amid ample supplies.
Spot prices for August delivery to Northeast Asia are estimated to be about $4.40 per million British thermal units (mmBtu), up 10 cents from last week, trade sources said.
Prices for cargoes delivered in September are estimated to be about $4.70 per mmBtu, they added.
The weekly price in Asia rose mainly because of higher European gas hub prices, which jumped this week after an unplanned gas outage in Norway, Europe's second biggest gas supplier, and on higher oil prices, they said.
Gas traders in Europe said fundamentals were nevertheless bearish, with many closely eyeing rising inventories which are far higher than the 5-year average for this time of the year.
Buying interest from Asia remained subdued with stockpiling for winter not expected to start until late September, trade sources said.
In Japan, coal-power stations capable of producing 10,437 megawatts (MW) of electricity will be fired up in the next few weeks, a Reuters survey of the companies shows.
In China, the top buyers of LNG were also largely staying away from the spot market, trade sources said.
Supply on the other hand was ample with Egypt's natural gas company EGAS offering in the spot market, one source said. Details of the offer were not immediately clear.
Brunei LNG sold a cargo for August loading at about $4.50 per mmBtu, two sources said, although this could not immediately be confirmed.
Malaysia's Petronas sold a cargo for August delivery at similar price levels, a third source said. The company's spot cargoes from its floating facility Petronas FLNG (PFLNG) Satu facility have been steady since production started in late May, the source added.
Earlier in the week, Angola LNG offered a cargo from its Soyo plant for delivery in late July to August to as far as Singapore.
Russia's Novatek offered a cargo for loading in July or delivery in August into either Europe or Northeast Asia, sources said. If the cargo is delivered into North Asia, it will be shipped via the Arctic sea route which has just opened for summer, they added.
A Yamal LNG cargo is set to be delivered into Dalian in China on Aug. 17, Refinitiv shipping data showed.
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Earlier:
2019, July, 9, 16:50:00
U.S. LNG DEMAND UP
Demand hit a single-day record high just below 6.4 Bcf/d on July 4 and was estimated at just under that level Monday, data compiled by S&P Global Platts Analytics shows.
2019, July, 1, 11:30:00
U.S. GAS PRODUCTION UP 12%
In April 2019, for the 24th consecutive month, dry natural gas production increased year to year for the month. The preliminary level for dry natural gas production in April 2019 was 2,708 billion cubic feet (Bcf), or 90.3 Bcf/d. This level was 9.8 Bcf/d (12.2%) higher than the April 2018 level of 80.4 Bcf/d.
2019, June, 26, 13:55:00
CHINA'S LNG UP
Over January-May, China imported 2.7 million mt of LNG from Malaysia, up 32% year on year, the customs data showed.
2019, June, 25, 12:45:00
GAS DEMAND WILL UP 46%
Dr. Sentyurin also highlighted that - according to the Forum’s projections - by 2040, the demand for natural gas is expected to increase at an annual average pace of 1.7%, corresponding to overall growth of 46%. Most of this demand growth will come from the Asia-Pacific region, with Europe continuing to be an attractive market for many gas producers.
2019, June, 20, 17:30:00
LNG RISKS UP
Around $200 billion in projects across the globe from Australia to the United States are racing to be approved over the next two years, vying to provide around 65 million tonnes of new annual supplies that are needed by 2025, according to estimates by consultants Wood Mackenzie.
