No. 1: Low natural gas prices are bringing more buyers back to the spot market for cheap LNG cargoes before costs rise, particularly in Asia.

Buyers in China, Bangladesh and South America have issued buyer tenders scheduled to close over the next week for 27 cargoes, according to Kpler data. Meanwhile, buyers in China, India, Japan, the Philippines, South Korea and Thailand  issued buy tenders for 19 cargoes that closed over the last week.

Specifically, Kpler shows that China’s Guangdong Energy Group Co. Ltd. is seeking 12 cargoes for delivery between July 2024 and June 2025 with a tender that closes March 13. Bangladesh’s Rupantarita Prakritik Gas Co. Ltd., which has been particularly active in the spot market in recent weeks, is seeking another five cargoes for April...