SINGAPORE: Asian area costs for dissolved natural gas (LNG) jumped today to a more than six-month high, as warm temperatures drove up need for the gas made use of in electricity generation, sector sources stated.
The typical LNG rate for September delivery right into Northeast Asia LNG-AS was approximated at concerning $14.45 per statistics million British thermal systems (mmbtu), up $1.15 from the previous week, and the highest because mid-January, the sources stated.
Temperatures in Tokyo, Seoul as well as Beijing– amongst the top consumers of LNG– are expected to stay above average over the next 2 weeks, climate data from Refinitiv Eikon revealed. Gas prices in the United States as well as Europe are additionally high amidst hotter weather. China’s Guangzhou Gas is looking for a freight for shipment in August right into the Dapeng terminal after earlier purchasing a freight for delivery into Diefu at around $14.40 per mmBtu, sources said.
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Pakistan LNG has sought four freights for shipment in September
Taiwan’s CPC likely acquired a cargo for delivery in September at around $14.50 per mmbtu, one resource stated.
Pakistan LNG is additionally looking for four freights for delivery in September, while Gail (India) provided a swap tender offering freights for loading from the United States as well as seeking freights for delivery right into India, resources stated.