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KOMIPO of South Korea issued a buy tender for a single cargo on FOB basis

South Korea's Korea Midland Power Co (KOMIPO) is seeking one LNG cargo for delivery in March on a delivered ex-ship (DES) basis. The company is seeking delivery of the cargo between March 21-23, and the tender closes on Feb. 1.

Sustained slide in spot prices have attracted many buyers from the Asia region.  The biggest LNG buyers in the world, Japan, Korea and Taiwan are expected to follow the same with a few more spot LNG buy tender in coming weeks. In South Asia region, India, Bangladesh and Thailand issued buy tenders in January mainly for the February delivery cargoes.

With lower than expected demand for LNG from the Europe because of warmer weather conditions and with over 70% full gas storage facilities in the Europe as on January 28 gas day according to AGSI, suppliers would be keen to divert LNG supply to the Asia region in coming weeks.