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Japan moving out of spot NG market into multi-year NG contracts
Japan's increased use of LNG to offset closed nuclear sites following the Fukushima nuclear disaster in March last year helped spur the move, which saw Asian spot prices that were roughly double those in Europe.
But industry officials say Japanese buyers have now moved out of the spot market, having squared away supply on short- and medium-term contracts instead.
...
"We are not seeing any (spot) demand coming out of Asia anymore...it is quiet. People think the Japanese are not buying spot supplies anymore because they signed so many medium-term deals," the source said.
...
The onset of deliveries to Japan under multi-year deals have also stoked fears that markets in Asia may not recover this year, several traders said.
http://uk.reuters.com/article/2012/07/13/uk-lng-asia-europe-idUKBRE86C0IP20120713?feedType=RSS&feedName=GCA-GoogleNewsUK
But industry officials say Japanese buyers have now moved out of the spot market, having squared away supply on short- and medium-term contracts instead.
...
"We are not seeing any (spot) demand coming out of Asia anymore...it is quiet. People think the Japanese are not buying spot supplies anymore because they signed so many medium-term deals," the source said.
...
The onset of deliveries to Japan under multi-year deals have also stoked fears that markets in Asia may not recover this year, several traders said.
http://uk.reuters.com/article/2012/07/13/uk-lng-asia-europe-idUKBRE86C0IP20120713?feedType=RSS&feedName=GCA-GoogleNewsUK
