Pockets of spot LNG demand continue emerging across Asia, particularly among price-sensitive natural gas buyers, but the market remains loose heading into summer as larger buyers across the region and in Europe remain on the sidelines. 

Thailand’s PTT LNG Co. Ltd. bought nine summer cargoes for about $13/MMBtu in a tender that closed last week, according to Kpler. Indian Oil Corp. Ltd. also bought another two cargoes at similar prices for cargoes to be delivered between May and August. Meanwhile, Vitol Inc. said last week it would deliver the Philippines first liquefied natural gas cargo this month. 

Natural gas storage inventories in Europe and Asia remain high following a mild winter, which is keeping a lid on spot buying. European markets were closed in observance of the...