LNG Prices Edge Higher On Egypt Buying

• Latest spot LNG import prices for world #1 buyer Japan show that it paid $6.0/mn BTU for cargoes imported in July and $5.4/mn BTU for August, well up from May’s record low of $4.3/mn BTU. May also saw an 11-year low for overall LNG prices of $5.9/mn BTU (see chart).

• Prices have remained at around $5.5-5.6/mn BTU in the latest LNG spot trade for October and November delivery cargoes, according to Reuters. Egypt, which is seeking one cargo a month for October, November and December arrival; and Kuwait which is looking for a November-arrival cargo, are the key potential buyers. An imminent Egyptian tender for 120 cargoes for delivery throughout 2017 is set to provide further support. (CONTINUED - 210 WORDS)