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LNG: Asia’s Spot LNG Demand Remains Subdued: Reuters

LNG
APACJapanChinaCommoditiesEnergy BulletsSouth KoreaBulletPower Bullets

Asia’s spot LNG prices were little changed this week, as ample stocks and mild weather capped demand in the far East, Reuters said.

  • Average spot LNG prices into East Asia averaged around$14/MMBtu, only a slight trend upwards week on week.
  • "Demand in Asia remains tepid, with East Asia demand relatively constrained amidst warmer-than-usual weather," Rystad’s Pang Lu Ming, told Reuters, adding that local forecasts indicated that South Korea and Japan would see above-normal temperatures through to early and mid-February.
  • While southern China will also see warmer temperatures, colder weather may hit the northern regions.
  • Storage inventories across Japan, South Korea, and China appear sufficient to cover current temperatures
  • The US arbitrage calculation to NE Asia via the Cape of Good Hope for Feb indicates that Europe remains the premium market.
  • The Qatar front month arb to NE Asia had closed for the first time in nearly to years, pushing Qatari cargoes to Europe.
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Asia’s spot LNG prices were little changed this week, as ample stocks and mild weather capped demand in the far East, Reuters said.

  • Average spot LNG prices into East Asia averaged around$14/MMBtu, only a slight trend upwards week on week.
  • "Demand in Asia remains tepid, with East Asia demand relatively constrained amidst warmer-than-usual weather," Rystad’s Pang Lu Ming, told Reuters, adding that local forecasts indicated that South Korea and Japan would see above-normal temperatures through to early and mid-February.
  • While southern China will also see warmer temperatures, colder weather may hit the northern regions.
  • Storage inventories across Japan, South Korea, and China appear sufficient to cover current temperatures
  • The US arbitrage calculation to NE Asia via the Cape of Good Hope for Feb indicates that Europe remains the premium market.
  • The Qatar front month arb to NE Asia had closed for the first time in nearly to years, pushing Qatari cargoes to Europe.