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Weekly Summary

LNG: Oct 18-22: DES Northeast Asia prices plunge by weak European natural gas prices and coral prices

--DES Northeast Asia

DES Northeast Asia prices plunged $4.65 from last Friday to $33.85-34.15 for first-half December delivery. With European natural gas prices softening, market sentiment weakened. Besides some portfolio players and several Japanese power companies, buyers were not observed and spot demand was sluggish. With coal prices turning weaker as well, sentiment in the DES Northeast Asia market was bearish.

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

Oman LNG opened a sell tender closing on Thursday for a cargo loading at the 10.50 mil mt/year Oman project on Dec 1-3. At the project, troubles at the No.1 train that occurred from August were resolved in late September and supply was smooth at the present.

--FOB Atlantic, DES Europe and South America

Turkish state-owned Botas purchased 15 cargoes for November 2021 to March 2022 delivery via a tender closed on Monday. Botas was seeking a total of 19 cargoes through the tender and was seen to be negotiating with participants on the remaining four cargoes. The price for the 15 cargoes purchased was at a premium of 40-70cts to the Netherlands' TTF.

Tokyo : LNG Team  H Asahina   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.