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Asian spot prices for liquefied natural gas (LNG) weakened for a week as the focus of procurement activity shifted to September, as weak demand, new supply and a weaker renminbi could cut demand in China
, Reuters reported on July 21.
The Asian spot price for September delivery was assessed at $9.
50 per million British thermal (Btu), down 50 cents
from the previous week.
Traders said traders Vitol and Trigigula Giang-Gas International offered five cargoes through Platts Market but no takers, even though the supplier slipped prices for some of those cargoes to $
9.
50 per million British thermal units.
Of the world's three largest LNG importers, demand from Japan, China and South Korea has weakened and could begin to decline
later this year.
Japan's LNG imports in June fell to their lowest level in more than two years as Japanese utilities shut down more nuclear reactors
after the 2011 Fukushima nuclear disaster.
Japan has six reactors in operation and another three that have passed safety checks and could be operational in October, which will allow utilities to abandon LNG
.
123Next View full article
Asian spot prices for liquefied natural gas (LNG) weakened for a week as the focus of procurement activity shifted to September, as weak demand, new supply and a weaker renminbi could cut demand in China
, Reuters reported on July 21.
The Asian spot price for September delivery was assessed at $9.
50 per million British thermal (Btu), down 50 cents
from the previous week.
Traders said traders Vitol and Trigigula Giang-Gas International offered five cargoes through Platts Market but no takers, even though the supplier slipped prices for some of those cargoes to $
9.
50 per million British thermal units.
Of the world's three largest LNG importers, demand from Japan, China and South Korea has weakened and could begin to decline
later this year.
Japan's LNG imports in June fell to their lowest level in more than two years as Japanese utilities shut down more nuclear reactors
after the 2011 Fukushima nuclear disaster.
Japan has six reactors in operation and another three that have passed safety checks and could be operational in October, which will allow utilities to abandon LNG
.
123Next View full article
123Next View full article
