Asian spot liquefied gas (LNG) rates saw a small decrease this week, however still held near a sixmonth top as hot weather in the region urged need for cooling, and as Northeast Asian purchasers focus on supplies for the summer season.

The typical LNG cost for July shipment into north-east Asia << LNG-AS > was at $12.00 per million British thermal systems ( mmBtu), market sources estimated. This is a little below $ 12.30/ mmBtu in the previous week, which was its greatest levels given that mid-December.

( The) heatwave has actually strengthened downstream gas demand in India however this is likewise a price-sensitive market. Currently, Indian importers have no choice but to import spot LNG due to surging power demand amidst the hottest heatwaves, said Masanori Odaka, senior expert at Rystad Energy.

Shipment into India, however, is frequently at a discount rate to Europe or the rest of Asia, added Odaka, so the impact on worldwide prices are limited.

India is experiencing a blisteringly hot summer, with a part of capital Delhi tape-recording the country's greatest ever temperature at 52.9 degrees Celsius (127.22 ° F) this week. At least 15 people have actually died of suspected heatstroke in the country's eastern states.

Southeast Asian buyers like Thailand's state-energy company PTT and Philippines power producer First Gen also provided tenders today seeking products for delivery in July.

In northeast Asia, South Korea and Japan are both projection for hotter than typical weather condition through most of June and well into July, said Samuel Good, head of LNG rates at commodity pricing firm Argus.

Several Japanese power utilities have currently purchased freights for June-July shipment, so their existing interest is pointing more towards August onward delivery, added Rystad's. Odaka.

In Europe, S&P Global Product Insights evaluated its day-to-day. North West Europe LNG Marker (NWM) rate standard for cargoes. provided in July on an ex-ship (DES) basis at $11.023/ mmBtu on. May 30, a $0.14/ mmBtu discount to the July gas cost at the. Dutch TTF center.

Argus examined the July shipment cost at $11.00/ mmBtu,. while Glow Commodities assessed the June shipment price at. $ 11.026/ mmBtu.

In Europe, TTF gas markets have discovered some assistance on the. back of higher Asian LNG need, said Hans Van Cleef, chief. energy economist at PZ-Energy.

Although European gas inventories are well filled, and the. filling season is still in development, market individuals appear to. react nervously when there are signals regarding greater Asian. demand, or supply disturbances as we have seen due to the. unforeseen Norwegian failures.

In the United States, Argus' Great said that production has. increased as the Cameron LNG terminal in Louisiana has actually raised. its feedgas consumption to levels that would suggest all 3. trains are running close to capacity.

Sabine Pass inflows, however, stay lower than would. normally be seen during cold weather, he added.

On the other hand, LNG freight rates continued to increase this. week, stated Glow Commodities expert Qasim Afghan. Atlantic. rates jumped to $52,500/ day on Friday, while Pacific rates rose. to $45,250/ day.