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Asian LNG Pricing Supported by Freeport Outage

LNG

Asian LNG pricing held steady this week, supported by the prolonged outage at Freeport in Texas.

  • The average LNG price for September delivery into north-east Asia LNG-AS was at $12.20 per mmBtu according to Reuters sources.
  • Analysts say Freeport has cancelled between 7-10 cargoes as a result of delays with the number expected to grow.
  • Argus said it has hit about a months’ worth of production.
  • Summer demand has also seen some Asian LNG importers seeking LNG cargoes for August and September delivery according to Rystad.
  • These include Japan's JERA, Tohoku Electric and Kansai Electric, and India's GAIL, Indian Oil Corporation and Gujarat State Petroleum. Thailand's PTT and South Korea's Korea Midland Power also issued tenders.
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