After the spot LNG prices have, by many reports, hit bottom in the past few months many buyers have returned to the market to stock up for the coming winter period and higher prices expected in October and November.
Platts Japan Korea Marker for September delivery rose from $10.525/MMBtu by $0.30/MMBtu over two days.
Platts reports sources saying that prices rose due to the expectation of even higher prices during the winter.
Even though the spot trading remains thin, recent sell tender from Australia’s North West Shelf LNG was interesting for a large amount of customers, with the project awarding six cargoes. They went to portfolio sellers who are thinking of the market and optimizing their position in the market.
LNG World News Staff, August 13, 2014; Image: Woodside