Asia Buyers Reluctant to Lock in High Prices for Q4

Some Asian LNG importers are reluctant to pay such high prices to restock supplies ahead of winter.

• Chinese and Japanese buyers are negotiating for supplies of LNG for Q4 delivery but discouraged by high prices and the strength in the US dollar according to Bloomberg.
• If gas is not secured before the winter heating season, then there is an increased risk of shortages if there is a sudden cold weather spell.
• Competition for LNG cargoes remains strong with high demand from Europe to replace Russia supplies and cover for winter consumption.

Source: Bloomberg