Spot LNG prices rise

LONDON, Oct 27 (Reuters): Asian spot liquefied natural gas (LNG) recorded its second weekly gain since the end of August, amid concerns over supply disruptions due to geopolitical tensions and lower feedgas volumes at US terminals undergoing planned maintenances.
The average LNG price for December delivery into north-east Asia rose to $13.80 per million British thermal units (mmBtu), up form $13.50/mmBtu last week, industry sources estimated.
"Prices are holding firm, with the market continuing to balance at high levels amid ongoing demand and geopolitical tensions," said Alex Froley, senior LNG analyst at data intelligence firm ICIS.
US production has dipped over the week, with reductions at the Cameron and Sabine Pass terminals due to planned maintenance, he added. Asian prices also tracked European gas prices at the Dutch TTF hub, which hit a 10-month high.
Argus assessed the price for December delivery at $13.240/mmBtu, while Spark Commodities assessed the price for November delivery at $13.104/mmBtu.
In LNG freight, the Atlantic rates dropped for a fifth consecutive week to $20,750/day on Friday, while the Pacific rates continued to decline for an eleventh straight week to $36,750/day.