LNG prices steady as Japan swelters and Texas plant readies export
Asian spot prices for liquefied natural gas (LNG) remained steady this week amid sweltering heat in Japan driving buying activity, while a new project in the United States is expected to load its first cargo soon.
Spot prices for October delivery to Northeast Asia are estimated to be about $4.70 to $4.90 per million British thermal units (mmBtu), slightly up from last week’s $4.75 per mmBtu, the sources said.
Prices for September delivery are estimated to be about $4.20 per mmBtu, same as the previous week, they said.
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Japanese utility Tohoku Electric Power sought a cargo for September delivery in a tender that closes on Aug. 16, its second spot requirement this month, industry sources said.
“(Japanese utilities) should be drawing down in ...