Australia's NWS LNG tenders to sell mid Sept cargo, bids due Tues

Chemical News: Australia's NWS LNG tenders to sell mid Sept cargo, bids due Tues

https://www.chemnet.com Aug 05,2010
Australia's North West Shelf LNG Wednesday launched a tender to sell a mid-September loading cargo, several market sources said. Bids are due by the following Tuesday, they added.

The project's last tender was launched mid-June, for a July 19 loading cargo. At that time, market sources said the winning bid was around the mid-$6s/MMBtu, implying a delivered price into north Asia in the low $7s/MMBtu.

According to several sources, that cargo was later cancelled due to production issues at the project. The new tender indicates that those issues have now been solved, and one source said Wednesday that more spot tenders may follow the latest one.

Prices have come up since the June tender, with Platts' September Japan Korea Marker above $8.00/MMBtu throughout the last fortnight, implying FOB Australia prices of close to $7.50/MMBtu.

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