--DES Northeast Asia

DES Northeast Asia prices were on an upward momentum. Prices for first-half and second-half November rose to $19.75, up $2.10 from Aug 27. Concerns over a fall in US supply due to Hurricane Ida and gains in European natural gas markets along with a supply shortage of natural gas boosted LNG markets in Asia including the DES Northeast Asia market. Supply on a DES Northeast Asia basis was limited and supply/demand was perceived to be tight. Production problems at the 10.50 mil mt/year Oman project were not resolved. Further, production at the 28.00 mil mt/year Bintulu project in Malaysia was reduced and Malaysian state-owned Petronas requested long-term customers to agree to supply delays.

--FOB Middle East, DES South Asia and the Middle East

Pakistan State Oil (PSO) purchased a cargo for September delivery via a tender closed on Aug 20. European Vitol was awarded at 24.5456% of Brent crude prices for Sep 26-27 delivery. In the same tender, Qatar Petroleum (QP) had indicated offers at 34.6688% of Brent crude prices for Sep 16-17 delivery but PSO did not award this cargo as prices were high.

--FOB Atlantic, DES Europe and South America

Production at natural gas production facilities in the US Gulf was still at 90% of normal levels due to damages caused by Hurricane Ida. Oil fields were also damaged and production of associated gas was reportedly falling. Some end-users said that LNG supply might be disrupted from Sep 6. At the 15.00 mil mt/year Corpus Christi project, ships appeared to be waiting. The 173,400cbm MEGI tanker "BW Pavilion Aranda" was scheduled to load at the project on Sep 2 but was waiting in the US Gulf as of Sep 3.