Liquefied natural gas for Northeast
Asia declined this week on reduced summer demand for spot
cargoes, according to Energy Intelligence Group.
Supplies of the power-station fuel for delivery over the
next four to eight weeks dropped to $15.60 per million British
thermal units from $16.05 in the period ended Aug. 5, the New
York-based research company said on the website of its World Gas
Intelligence publication. The price in Southwest Europe gas was
unchanged from last week at $11.90. LNG is forecast to drop this week, according to three traders surveyed by Bloomberg News through Aug. 7. Asian buyers typically buy fewer cargoes in September and October as power consumption drops with cooler temperatures.
A heatwave in Japan last week and the scheduled shutdown of the country’s two operating nuclear reactors next month may boost consumption, WGI said.
There may be spot cargoes available from Nigeria, Trinidad & Tobago, Algeria, Yemen, Norway, Russia, Brunei and Malaysia to meet demand for late September and October, according to the research company.
There’s “little impact” from the continued shutdown of one processing train at the Woodside Petroleum Ltd.-operated North West Shelf LNG project in Western Australia, WGI said. Daniel Clery, a Perth-based spokesman for Woodside, declined to comment, according to an e-mail Aug. 5.
Post to be found at:
http://www.businessweek.com/news/2013-08-14/northeast-asia-lng-prices-fall-on-reduced-spot-demand-wgi-says
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