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Platts JKM for LNG cargoes will be eased.

The Platts JKM for LNG cargoes to be delivered in October was assessed at $11.75/MMBtu, dipping 4.35 cents/MMBtu from last Friday, as the market took a breather after recent gains, and autumn shoulder month weakness started to emerge.

Sources said the market may be peaking with oil-slope equivalent levels at seasonal highs of around 15 percent and end-users held back to re-evaluate future prices. Trade activity was thin, with no firm bids or offers submitted during the Platts Market on Close assessment process. Others, however, added that expectations for further demand for winter cargoes continued to underpin the firmness in the market.

Demand from end-users appeared limited except for one South Korean buyer, who was heard to be sounding out the market for winter volume, although it was not clear how firm their requirements were. In addition, an Australian producer was heard possibly seeking one November and one December delivery but details remain unclear.

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Publication:Pakistan & Gulf Economist
Date:Sep 16, 2018
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