GlObal lng: asia spOT sTeady aT Three-year high
LONDON: Asian spot liquefied natural gas (LNG) prices held steady near three-year highs this week as production problems in Indonesia, higher oil and European gas benchmarks and tender awards lent support. Spot prices for January delivery were unchanged at $9.85 per million British thermal units. Renewed Indian demand for spot cargoes in January and beyond helped buoy markets even as traders assessed that the two biggest buyers, South Korea and Japan, may keep a low profile for the rest of winter, barring unseasonably cold weather. Korea Gas Corp is estimated to have recently purchased 10 cargoes to cover the remainder of its winter needs and Japanese importers showed few signs of topping up stocks for now. India’s Bharat Petroleum came out this week with two tenders seeking a spot cargo in January and three more spread across May, August and October.