Posted - October 16, 2013 - By Anna Shiryaevskaya - Bloomberg
Short-term liquefied natural gas
prices for Northeast Asia jumped by the most since December as
buyers sought more cargoes for winter, according to Energy
Intelligence Group.
Prices for the power-station fuel for delivery over the
next four to eight weeks increased to $16.80 per million British
thermal units in the period ended Oct. 14, up from $16.10 a week
earlier, the New York-based research company said on the website
of its World Gas Intelligence publication. Southwest Europe
prices were at $11.80, up from $11.70.
LNG prices are forecast to rise this week, according to
traders surveyed by Bloomberg News through Oct. 11. Asian buyers
typically increase purchases of spot cargoes from December to
March to meet peak heating and power demand during winter in the
northern hemisphere.
Producers have tied up most additional output for the rest
of the year in short-term or strip deals as well as incremental
sales to long-term clients, WGI said.
Some Japanese utilities are still seeking late-November
cargoes, bidding “in the low- to mid-$16s,” while Chinese and
South Korean buyers will probably be seeking cargoes soon, WGI
said.
Angola LNG shipped a partial cargo aboard Soyo to South
America yesterday, ahead of planned maintenance that will last
about 50 days, WGI said.
Post to be found at:
http://www.bloomberg.com/news/2013-10-16/northeast-asia-lng-jumps-most-in-10-months-on-demand-wgi-says.html
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