Wednesday, 30 September 2009 13:43
Taiwan's CPC has tendered to buy three spot cargoes of liquefied natural gas for October to November supply.
In the tender, which closed late last week, CPC requested two cargoes for October arrival and a cargo for November, traders said.
Such spot demand has helped to support LNG prices in Asia-Pacific, seen at slightly under $5.00 per mmBtu.
"The supply and demand fundamentals are quite balanced," a trader said.
One trader said the spot supply is likely to meet demand from Taiwan Power Company, though this could not be confirmed.
Taiwan imported about 928,000 tonnes of LNG in July, up from 863,000 tonnes in June, due to peak power generation demand, official data showed, reported Reuters.
Source: Upstreamonline
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