GLOBAL LNG-Asian spot LNG prices rise on signs of stronger demand [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
in north and south China, pushing European buyers to bid at relatively narrow discounts to attract sellers. The average LNG price for June delivery into north-east Asia rose to $10.50 per million British thermal units (mmBtu), from $10.40/mmBtu in the previous week, industry sources estimated. "We have seen Asian and European prices rise higher, mostly following news of the Gorgon LNG outage," said Ryhana Rasidi, LNG analyst at data analytics firm Kpler. "However, we estimate the impact of the outage to be limited in the short term and downward pressure is expected on prices due to the low-demand shoulder season in Europe and Northeast Asia, where gas/LNG stocks remain sufficient for now," she said. Chevron Australia said last week it was working to resume full production at its Gorgon gas facility after a mechanical fault caused one LNG production train to go offline. Analysts expect the affected production train to be offline for up to five weeks. However, South Korean and
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