Liquefied natural gas prices in Asia rose to new seasonal records earlier this week due to higher base natural gas prices in Europe, but prices fell slightly at the end of last week.

The average LNG price for supply to Northeast Asia in November was estimated at $ 24-25 per million British thermal units (MMBTU), according to industry sources, at least $ 3 higher than the previous week.

It is also said that delivery prices are expected to be $ 22-23, up about $ 1.90-2.90 from the previous week.

A spot Price of about $ 29 per MBTU was made earlier this week, the source said, adding that Japan’s Tohoku Electric is a potential buyer. Another source said that these are the most expensive prices on the spot market this year.

Sources said that there as utility companies and other buyers are buying to store inventory for the winter, prices are currently high but when prices are much higher, derivatives entering the physical market make a profit,” the trader said.

Despite rising prices, demand persists and NEPCO Bangladesh and Jordan intend to deliver the shipment in October.

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