Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Asia LNG prices slip below $30/mmBtu

    Asia LNG prices slip below $30/mmBtu

    November 5, 2021
    Share
    Facebook Twitter LinkedIn WhatsApp

    *As supply improves in Europe

    Singapore — Asia liquefied natural gas (LNG) prices fell for a third straight week, as improved gas supply in Europe reduced the competition for LNG in Asia, though losses were limited by fresh demand from Pakistan and Turkey.

    *LNG vessel.

    The average LNG price for December delivery into Northeast Asia fell to $29.50 per metric million British thermal units (mmBtu), down $1.50 or about 5% from the previous week, industry sources said.

    European wholesale gas prices fell this week after flows from Russia through the Yamal pipeline resumed after a five-day pause.

    LNG cargoes were also sold from Oman and Australia in the spot market, the sources said.

    Chevron has completed maintenance at its Wheatstone LNG plant in Western Australia, with cargo exports expected to go up in the fourth quarter. read more

    Still, ongoing issues at Freeport LNG’s plant in Texas, where feedgas to the plant fell to its lowest since September, are supporting prices in Asia, traders said.

    Spot demand continues to be firm with some Chinese buyers scouting the market for cargoes for delivery in winter, one of them said.

    Pakistan LNG is seeking two cargoes for delivery in November through an emergency tender after its term suppliers cancelled delivery of cargoes, sources have said.

    Turkish state energy company Botas is seeking nine LNG cargoes for delivery in December, January and February, an industry source said, adding that the tender closed on Nov. 4.

    The Electricity Generating Authority of Thailand (EGAT) earlier this week sought a cargo for delivery in December while Japan’s Hokkaido Gas was seeking a cargo for delivery in winter, industry sources said.

    Temperatures are expected to fall below normal in Seoul, Beijing and Shanghai over the next two weeks, weather data from Refinitiv Eikon showed, which could also boost demand for the super-chilled fuel further.

    *Jessica Jaganathan; Editing: Subhranshu Sahu – Reuters

    Related News

    ADNOC Gas takes FID and awards $5b contracts for RGD project

    ‘Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities’

    Nigeria loses N710bn to gas flaring in four months

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Oil prices climb to 2-month high on US-China trade deal, worries about Iran supply

    June 11, 2025

    Kenya central bank lowers 2026 growth forecast to 5.4%

    June 11, 2025

    Nigeria partners Brazil to develop methanol complex 

    June 11, 2025

    FG to train 100,000 youths annually in forex trading

    June 11, 2025

    China, Africa ask US to return to ‘right track’ on trade differences

    June 11, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.