A roundup of news and commentary from NGI’s LNG Insight
- Trafigura Group Pte. Ltd. has reportedly bid $26.15/MMbtu for an early February LNG cargo delivery to South Korea. The trading firm has reportedly bought cargoes on the Asian spot market at $21.70 and $20.80 in recent days for February delivery, shattering previous Japan Korea Marker (JKM) records.
- The JKM February futures contract, which expires next week, has gone from $12.795 to $15.550 over the last five days amid a severe cold snap in China, Japan and South Korea. Average JKM spot prices hit $20.705 on Thursday, the highest since assessments started in 2009.
- LNG tanker Symphonic Breeze is docked at the Royal Dutch Shell plc floating liquefied natural gas (FLNG) vessel Prelude, according to ClipperData. The firm also said the GasLog Glasgow tanker may arrive at Prelude Jan. 17. The FLNG vessel offshore Australia was taken offline last February after an electrical issue. The company later pushed back its restart to 2021.
- Chevron Corp. has found weld issues on Train 1 at the Gorgon LNG export facility in Australia. The weld quality problem was discovered during planned maintenance after a similar problem was discovered on Train 2 last year, which cut output at the facility. Repairs are underway. Trains 2 and 3 are operational.
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