SINGAPORE/MILAN (Oct 7): Asian liquefied natural gas (LNG) gas prices reached a nine-month high this week, as demand from India, Japan and South Korea underpinned sentiment. Higher crude prices are also lending support to LNG values. LNG demand from North Asia remains firm as nuclear power stations in Japan and South Korea that have been taken offline are expected to stimulate demand for the super-cooled fuel. Indian gas firm GAIL closed a tender seeking a November and a December cargo early this week. Despite firm Asian demand, gains in spot prices could be capped by new production from the Australia Pacific LNG (APLNG) project that is due to start-up this quarter, and returning U.S. supplies.

Source: The Edge Markets October 07, 2016 11:15 UTC