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JKM Likely to Soften in August Amid Strong Supply

LNG

North Asia’s LNG prices are set to decline as traders continue to offer cargoes for August delivery, according to Bloomberg.

  • Meanwhile, Japanese demand for additional cargoes has not meaningfully materialised, Bloomberg added.
  • Platts reported July 8 that Japanese utilities may look for additional cargoes over the summer due to a heatwave across the country boosting electricity demand.
  • Output from gas fired power plants in the Tokyo region July 8 were up 41% on the week, Bloomberg said.
  • Elsewhere in the region, PetroChina bought a cargo from ENN for Aug. 15-17 delivery at Sept. JKM minus 18 cents/MMBtu.
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