Asian prices slip but deliveries for December at record high

SINGAPORE (Reuters) by Jessica Jaganathan – Asian spot prices for liquefied natural gas (LNG) slipped this week amid thin trade, though monthly deliveries into Northeast Asia climbed to a record in December as colder-than-normal temperatures are expected this week. Spot prices for February delivery to Asia dropped to $9.10 per million British thermal units (mmBtu), with bids and offers remaining wide apart from $8.70 to $9.50 per mmBtu, industry sources said. Trade was largely quiet with many traders on Christmas holidays. Commodities trader Vitol Asia bid in S&P Global Platts’ pricing process on Thursday for a series of four LNG cargoes to be delivered over 2019 to 2020, according to one trader. The cargoes were for delivery over May 10 to 20, August 10 to 20, November 10 to 20 in 2019 and Feb. 10-20 in 2020 into Port of Gwangyang, South Korea. Meanwhile LNG imports into China, Japan, South Korea and Taiwan have climbed to 20.5 million tonnes so far in December, already 5 percent more than the previous monthly record of 19.5 million tonnes back in January, data from Refinitiv Eikon showed. December shipments were nearly 15 percent higher than November, the data showed. Temperatures across Tokyo, Beijing,… continue reading

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