Reuters are reporting that Asian spot prices for LNG delivery in March fell during the week ended 10 February on weak demand and steady supplies despite loading disruptions caused by bad weather at some Australian ports.
Companies including Cheniere Energy and Royal Dutch Shell were offering several cargoes over coming months, helping accelerate a downward trend in spot prices since January.
Spot prices for March delivery were seen at around US$7.20 per mmBtu, 30 cents below the last assessment level, while April prices dipped below the US$7 per mmBtu mark.
In one of the biggest tender awards so far in 2017, Argentina filled requirements for 16 shipments over April – August, awarding 11 to Trafigura, three to Glencore and two to Cheniere.
Loading of cargoes from Australia's North West Shelf (NWS) liquefaction plant were briefly halted due to bad weather last week, shrugged off by traders as a fleeting hindrance.
Thailand's state-owned oil and gas firm PTT is seeking an LNG shipment for the second half of March via a tender which will close on 15 February.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14022017/global-lng-prices-slide/