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Early Winter Gas Rush in Asia Signals Further Price Pain Ahead

  • India has already bought several cargoes for winter delivery
  • Korea, Japan may also buy more fuel on spot LNG market

Liquefied natural gas buyers in Asia are already busy securing cargoes for winter, indicating that competition in a tight market may lead to a further jump in prices. 

India’s Gujarat State Petroleum Corp. this month purchased spot LNG shipments for winter delivery at a 20% premium to summer prices. Meanwhile Korea Gas Corp., one of the world’s top buyers of the chilled gas, has said it’s considering boosting supply for winter and Japan’s government seeks to strengthen its involvement in procuring fuel from overseas.