--DES Northeast Asia

In the DES Northeast Asia market last week, prices moved rangebound at around $13.00. Iran launched ballistic missiles to Israel, elevating geopolitical risks; however, ample supplies in the northeast Asia weighed on prices.

Several sellers were keen on spot sales for November delivery. PetroChina Co Ltd and European Trafigura showed offers for mid-November delivery at a discount of 5cts to flat to the November contract of DES Northeast Asia quotations. European Vitol and British Shell also had room to sell spot cargoes for November delivery. Saudi Arabia's state-run Saudi Aramco offered mid-December delivery at a premium of 20cts to the December contract of DES Northeast Asia spot quotations.

Russian Sakhalin Energy operating the 10.80 mil mt/year Sakhalin 2 project was seen to have sold a cargo to China for December delivery at $13.40 or a discount of 20-30cts to DES Northeast Asia spot quotations via its DES tender closed on Sep 30.

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

Amid the escalating tensions between Israel and Iran, "There is information that US Chevron's Tamar and Leviathan gas fields, both located in offshore Israel, have stopped operation" (a Japanese company) was heard. Fresh information implied that the halts of both fields were in correspondence to the missile attack by Iran and has already resumed operation.

--FOB Atlantic, DES Europe and South America

Russian Gazprom has continued to export natural gas to Europe via Ukraine transit under the contract; gas supply from Norway has shown a rising trend due to the maintenance at its gas field and processing plants almost being over. A sudden maintenance, however, started at Troll gas fields in Norway on Oct 2. The maintenance was expected to end on Oct 4, with a possible extension remaining. Under the maintenance period, supply volume would be reduced by 0.4 billion cubic feet per day. "The fall in volumes is little, giving negligible impacts on the market" (a Japanese company).