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Latest issue of The LNG Markets
Middle East and South Asia players could be game changer in the short run
Highlights of Issue :
The strong buying interest from Jordan, Pakistan and Egypt, rekindled interest in spot markets. Most of the front month offers are expected to move up by at least 10cts to 20cts for all the buyers.
Trade Overview
Middle East Markets Trade Summery
South American Markets Monthly Trade Summery
South Asia/India Monthly Trade Summery
Northeast Asia Monthly Trade Summery

Chinese Force Majeure likely to impact LNG prices

Further slip in LNG prices for spot and short term was feared as Chinese major China National Offshore Oil Corp (CNOOC) reportedly announced Force Majeure for three to four LNG cargoes, following outbreak of Coronavirus in China. Major among spot buyers, including Indian were expected to benefit the most from the reduced Chinese demand for LNG. Indian importer RIL recently secured a deal for around $2.80 for an April delivery cargo, possibly from Shell. The cargo secured for an early part of April delivery window, believed to be the cheapest in price, in more than decade. Following the footsteps of CNOOC, some other Chinese importers too believed to have initiated process to declare Force Majeure as most of the leading Chinese industrial consumers, experience slow down in industrial activities. The LNG demand contraction has in turn, forced the importers to cut down on their LNG imports and declare force majeure on long term and short term cargoes. Some of the these cargoes were expected to find their ways into the Indian and South East Asian spot market, according to some sources. The portfolio suppliers like Shell with huge, long term exposure to the Chinese major, likely to offer spot LNG to Indian importers for delivery during April and May windows. Mild weather condition in Japan and North East Asian countries also contributed to reduced demand for LNG in recent time. 

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