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Asia’s Spot LNG Prices Reaches 8-month High: Reuters

NATGAS

Asia’s spot LNG prices rose to their highest level in eight months, boosted by cooling demand across the region raising gas-fire power generation, Reuters said.

  • The average LNG price for October delivery into North Asia was $14.10/MMBtu, the highest since Dec. 8.
  • Peak power demand in South Korea this week nearly beat the record set in the first week of August, weighing on LNG stockpiles, sources told Reuters.
  • Forecasts are also expecting a protracted end to the summer cooling demand period, typically a period also characterised by pre-winter restocking.
  • Rystad Energy also said that temperature expectations continue to be above average for East Asia and parts of Southeast Asia, likely to further boost gas demand.

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