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WIM Spread to JKM narrows on Geopol Risk and Firm Indian Demand: Platts

LNG

LNG prices in South Asia are supported following tightness in shipping availability, and firm regional demand, according to Platts.

  • The JKM/WIM spread stood at 22.8 cents/MMBtu Feb. 1, Compared to 44.1 cents/MMBtu Jan. 2.
  • As LNG prices have fallen, Indian appetite has grown with prices now more competitive for their buyers.
  • In January, entites such as GAIL, Bharat Petroleum, Indian Oil, Gujarat Petroleum, Torrent, Petronet, and Arcelor Mittal Nippon steel purchased cargoes from the market, highlight the broad interest for LNG, Platts said.
  • LNG demand in the Indian power section from March-October is also expected to be strong, sources told Platts.
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