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Asia’s Spot LNG Edges Up Amid Hot Weather

LNG
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Asia’s spot LNG prices rose to its highest level since January, with hot weather across the region stoking demand, according to Reuters.

  • JKM spot prices have averaged $10.90/MMBtu this week, up 40 cents/MMBtu on the week, the highest since Jan. 5.
  • Forecasts for above-average temperatures in Northeast China for the coming month could further boost gas fired generation.
  • Meanwhile, India is looking for additional spot volumes due to an ongoing heatwave.
  • Asia has also shrugged off outages at Malaysia’s Bintulu LNG.
  • Meanwhile, in Europe, Platts assessed the LNG price for NWE at a 15 cents/MMBtu discount to TTF.
  • Europe’s gas prices are seen holding steady this week, with pressure from warmer weather and stable pipeline flows. However, reduced Sabine Pass LNG exports could be supportive.
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Asia’s spot LNG prices rose to its highest level since January, with hot weather across the region stoking demand, according to Reuters.

  • JKM spot prices have averaged $10.90/MMBtu this week, up 40 cents/MMBtu on the week, the highest since Jan. 5.
  • Forecasts for above-average temperatures in Northeast China for the coming month could further boost gas fired generation.
  • Meanwhile, India is looking for additional spot volumes due to an ongoing heatwave.
  • Asia has also shrugged off outages at Malaysia’s Bintulu LNG.
  • Meanwhile, in Europe, Platts assessed the LNG price for NWE at a 15 cents/MMBtu discount to TTF.
  • Europe’s gas prices are seen holding steady this week, with pressure from warmer weather and stable pipeline flows. However, reduced Sabine Pass LNG exports could be supportive.