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Lower Flat Prices Spur US and WAF LNG Flows to India: Platts

LNG

Weak spot LNG prices globally have sparked spot buying interest in India and the Middle East, aiding WAF and US sellers, Platts said.

  • The arbitrage window between US-JKTC was marginally closed, Platts said.
  • However, arbitrage for Atlantic cargoes to Middle East or India was open as buying interest was higher than in the JKTC, with cargoes diverting from Europe to India.
  • Selling Europe-bound cargoes to India rather than the Far East also aids shipping, especially when most cargoes divert via the Cape. Going to the Far East would add a further 20 days compared to India.
  • Cargoes are also being offered out of Nigeria for India. This also is easier for shipping, especially as flows are no longer headed via the Suez Canal.
  • One trader told Platts that almost all of the WAF flows have been headed East since January.
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