Asian spot LNG prices for December delivery rose during the week of Oct. 17 as countries from India to Mexico and Kuwait lined up to get a hold of near-term shipments.
The price of LNG for December delivery was $6.80 per million British thermal units (MMBtu), up about 25 cents from one week earlier.
Egypt is said to be preparing to open a tender between Oct. 22 and Oct. 23 seeking 96 cargoes with an additional 12 optional cargoes for delivery in 2017 and 2018, several sources said, although the information could not be immediately confirmed.
Initial statements from Egypt Natural Gas Holding officials during the week of Oct. 10 suggested the country would be seeking roughly half that number of cargoes just for 2017 delivery.
"They are already talking to some of their existing suppliers about this tender," a trading source said.
Participants also focused on Korea Gas Corp.'s recent tender for four cargoes over the winter, which may be awarded during the week of Oct. 24.
South Korea's demand is seen as a potentially key determinant of winter spot LNG prices in Asia because the country has to replace so much lost nuclear output caused by September's earthquake.
Mexico, meanwhile, is adding to demand by seeking two cargoes for November. Indian Oil Corp. is also after two cargoes in December, and Kuwait is hoping for one mid-December delivery.
On supply, Abu Dhabi has finalized the sale of a November cargo.
Wiratmaja Puja, Indonesia's director general of oil and gas, said on Oct. 20 that there are currently 63 uncommitted LNG cargoes for 2017 delivery from the country's Tangguh and Bontang projects.
Qatargas, the world's largest LNG producer, recently signed a five-year sales and purchase agreement with Petronas LNG UK, expanding a strategic import deal to Europe in the face of a looming global glut of gas supplies.
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