LNG: Gradual Recovering for Malaysia LNG Exports After Maintenance

Malaysia’s LNG exports have seen a gradual recovering over the past three weeks after maintenance last month, according to Bloomberg.

• The rebound in shipments could push prices in Asia lower although spot LNG prices for Asia are currently steady around mid-to-high $12/mmbtu, Bloomberg sources said.
• The 10-day moving average LNG exports rose to 52k tons/day on June 4 from a low of 11k on May 19, ship-tracking data showed.
• Maintenance at two terminals at Petronas’ Bintulu LNG facility in Malaysia last month caused exports to slow.
• The exports are still about 24% lower than the previous five-year average for this time of year.
• May LNG exports were down 31% from a year earlier, BNEF showed.