Scandoil  

Platts: Asia Spot LNG Prices for January 2014 Delivery Rose 7.2% on Winter Demand


Published Dec 20, 2013
Platts - LNG

Prices of liquefied natural gas (LNG) for January 2014 delivery to Asia increased 7.2% from December to $18.958 per million British thermal units (/MMBtu), as North Asian buyers continued to compete for winter cargoes, according to the latest Platts Japan/Korea Marker (JKM) for month-ahead delivery. The monthly average Platts JKM for delivery in January 2014 was assessed from November 18 to December 13.

The January-delivery price increase followed a 11.5% rise for the prior month, when the December-delivery price averaged $17.689/MMBtu.

On a year-over-year basis, the average January JKM was up 21.3% from the January 2013 average of $15.630/MMBtu.

“Aggressive procurement efforts from China’s buyers, who faced significant shortfalls in winter natural gas supplies, gave enough support for sellers to raise their offers and push deals into the $19/MMBtu level,” said Max Gostelow, associate editor of Asia LNG at Platts, a leading global energy, petrochemicals and metals information provider and a premier source of benchmark price references. “Following the China purchases for January, demand from buyers in Japan and South Korea buyers was much more subdued.”

Remaining buyers were reluctant to conclude deals above $19/MMBtu and cited several factors that suppressed demand: a combination of ample LNG supplies in tank, moderate temperatures in North Asia, and LNG prices already at or approaching oil parity. The apparent unsold number of Atlantic supplies remaining in the market also capped prices.

Tags: Platts




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml