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Prices rise on South Korea purchase

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LNG Industry,

Reuters are reporting that Asian spot LNG prices rose over the past week, supported by Korea Gas Corp buying up to seven LNG cargoes in its latest tender while an outage at Cheniere Energy's Sabine Pass export plant in the US squeezed supply.

Spot prices for June delivery, assessed on 28 April, rose to US$5.80 per mmBtu, up 10 cents on the week.

Korea Gas Corp agreed to purchase between five and seven LNG cargoes as part of its tender for June and July supply, with prices estimated at between US$5.50 and US$5.80 per mmBtu.

Prices were also supported by the sale of Russia's Sakhalin II export plant of two cargoes loading across June and July.

Elsewhere, Japan's Tohoku Electric purchased at least one cargo via a tender this week and Thailand's PTT is seeking two cargoes for June delivery, traders said.

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