Asian spot liquefied natural gas (LNG) prices rose for the second straight week to their highest in over two months, buoyed by stable demand ahead of winter and as some producers curbed supply due to maintenance or disruption at plants.
Spot prices for October delivery in Asia rose to $11.40 per million British thermal units (mmBtu) this week, up 30 cents from the week before, industry sources said. Prices for November delivery are pegged at about $12.15 per mmBtu, widening the inter-month spread, they added.
Planned maintenance at Australia’s Wheatstone LNG plant and a disruption at the Sakhalin-2 LNG project in the far east of Russia are expected to tighten supply in the coming week, traders said.
Sakhalin Energy halted a production line at Sakhalin-2 on Saturday, but expects output to be restored in the coming days. Read More