LNG interest from Asia's emerging gas markets rises as prices ease

SINGAPORE :Energy companies in Asian emerging markets are returning to the market for liquefied natural gas cargoes as prices have fallen to their lowest in more than a year.

Amid the falling prices, Bangladesh's state-owned Rupantarita Prakritik Gas Company Ltd last week issued a buy tender for one LNG cargo for delivery in late February. Thailand's PTT has also issued tenders seeking a total of 12 LNG cargoes to be delivered between February and April, while India's GAIL Ltd and Petronet respectively sought cargoes for February delivery.

Ramesh also noted that spot LNG prices are now competitive with the price of coal for power generation. He sees the recent buying interest, along with cold temperatures from a polar vortex in North Asia, lending near-term support for LNG.

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