A liquefied natural gas tanker is berthed at Tokyo Electric Power Co’s (Tepco) Futtsu gas-fired thermal power plant in Futtsu Chiba Prefecture, Japan. Asian liquefied natural gas (LNG) prices firmed last week as supply growth from new and existing producers continued to frustrate expectations, Reuters reported. Traders said that liquidity was thin in Asia last week with prices for June delivery at $4.65 per million British thermal units (mmBtu), compared with $4.55 per mmBtu last week. Spot LNG prices for July delivery were seen at similar levels. “Some buyers in Asia may be willing to pay a premium to an end-June cargo,” one trade source said. There were a few bright spots amid generally lacklustre demand. Korea Gas Corp was due to have awarded its purchase tender for six cargoes last week, with two Asia-based traders citing talk that Qatar will supply some or all of the cargoes. A source in Europe, however, said Kogas had pushed back the award date of the tender and that two companies have been shortlisted. It was not possible to confirm details. Egypt is also expected to launch a tender for the supply of about 10 cargoes for delivery in the second half of the year.
LNG
