Singapore LNG cargo prices drop below $5.00 per MMBtu level amid Gulf cargo depression
Singapore LNG spot cargo prices drop for Southeast Asia as well as China and South Korea to under US$5.00 per million British thermal units amid a lack of quotes for Dubai and Kuwait cargoes because of security concerns.
Singapore LNG spot cargo prices lose more ground to stay just above $4.00 per MMBtu level
Singapore LNG spot cargo prices fell, led by a decline in North Asia of around 3 percent on the week and in the Middle East and India as traders looked to September and beyond for higher values.
Singapore LNG spot cargo prices fall again to four-year lows amid over-supply and oil drop
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Singapore LNG spot cargo prices dropped to four-year lows of under US$4.000 per million British thermal units for southeast Asia, though managed to stay above the lowest levels for North Asia shipments.
Singapore LNG spot prices drop as summer season and excess of cargoes hit values
Singapore LNG spot cargo prices declined by around US$0.20 per million British thermal units, though managed to stay above the $4.00 per MMBtu level for southeast Asia with North Asia shipments slightly higher.
Singapore LNG prices drop as lower demand and high volumes offset any oil price effects
Singapore LNG spot cargo prices dropped as excess volumes and lower seasonal demand led to the highest price quoted being under US$5.500 per million British thermal units for the first half of August for North Asia.
The Singapore average index for July dropped to US$5.084 per MMBtu from last week’s June average of US$5.306 per MMBtu.
Singapore’s latest LNG indices released on May 16 included a price of US$5.005 per MMBtu for the second half of June and US$5.052 per MMBtu for the first half of July.
The surplus in global LNG supplies continued to put downward pressure on prices in the Northern Hemisphere summer market as crude oil prices stayed solid on the week at around $71 per barrel.
Cargo prices for the second half of July were at US$5.116 and were highest for the first half of August at US$5.176.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).
It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.
The North Asia price fell to a July average of US$5.354 per MMBtu versus last week’s June average of US$5.555 per MMBtu.
North Asia cargoes for the second half of June were at US$5.245 per MMBtu, before rising for the first half of July to US$5.310 per MMBtu, then moving higher to US$5.380 for the second half of July.
The first half of August price for the North Asia market was US$5.475 per MMBtu, the highest on the board.
The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.
The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.192 per MMBtu for July, much lower than last week’s June average of US$5.400 per MMBtu.
The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of June at US$5.113 per MMBtu before edging higher to US$5.167 per MMBtu for the first half of July.
The price for the second half of July was at US$5.217 per MMBtu and the highest for the region was the first half of August price of US$5.320 per MMBtu.
The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.
It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.
The Sling is based on participants submitting assessments to determine an index value.
“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.
The SGX-EMC LNG prices include both lean and rich cargoes.
Singapore LNG spot cargo prices becalmed by high volumes and lower seasonal demand
Singapore LNG spot cargo indices were becalmed by large volumes and lower seasonal demand in a market with the highest quotes for North Asia in the second half of July.
The Singapore average index for June crept up to US$5.306 per MMBtu from last week’s June average of US$5.221 per MMBtu.
Singapore’s latest LNG indices released on May 9 included a price of US$5.290 per MMBtu for the first half of June and US$5.332 per MMBtu for the second half of June.
The surplus in global LNG supplies continued to put downward pressure on prices in the Northern Hemisphere summer market as crude oil prices moved lower on the week to around $70 per barrel.
Cargo prices for the first half of July were at US$5.395 and were higher for the second half of July at US$5.447.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company.
It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.
The North Asia price rose to a June average of US$5.555 per MMBtu versus last week’s June average of US$5.506 per MMBtu.
North Asia cargoes for the second half of June were at US$5.566 per MMBtu, before rising for the first half of July to US$5.644 per MMBtu, then moving higher to US$5.708 for the second half of June.
The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.
The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.400 per MMBtu for June, an increase from last week’s June average of US$5.353 per MMBtu.
The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of June at US$5.420 per MMBtu before increasing to US$5.497 per MMBtu for the first half of July.
The price for the second half of July edged higher to US$5.570 per MMBtu.
The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.
It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.
The Sling is based on participants submitting assessments to determine an index value.
“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.
The SGX-EMC LNG prices include both lean and rich cargoes.
Singapore LNG spot cargo prices rise led by North Asia shipments in the second half of July
Singapore LNG spot cargo indices began moving higher in the past week and into the second half of July with North Asia shipments leading the way.
The Singapore average index for June increased to US$5.221 per MMBtu from last week’s June average of US$5.035 per MMBtu.
Singapore’s latest LNG indices released on May 2 included a price of US$4.847 per MMBtu for the second half of June of US$5.245 per MMBtu.
Prices were quoted as a surplus in global LNG supplies permeated the Northern Hemisphere summer market as other energy trading products benefited from crude oil prices this week of around $74 per barrel.
Cargo prices for the first half of July were at US$5.335 and were higher for the second half of July at US$5.415.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).
It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.
The North Asia price rose to a June average of US$5.506 per MMBtu versus last week’s June average of US$5.305 per MMBtu.
North Asia cargoes for the second half of June were also lower week-on-week at US$5.525 per MMBtu, before rising for the first half of July to US$5.625 per MMBtu, then moving even higher to US$5.730 for the second half of June.
The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.
The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.353 per MMBtu for June, an increase from last week’s June average of US$5.177 per MMBtu.
The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of June at US$5353 per MMBtu before increasing to US$5.490 per MMBtu for the first half of July.
The price for the second half of July jumped to US$5.585 per MMBtu.
The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.
It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.
The Sling is based on participants submitting assessments to determine an index value.
“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.
The SGX-EMC LNG prices include both lean and rich cargoes.
Singapore LNG prices drop again close to recent lows as excess volumes offset oil influence
Singapore LNG spot cargo indices began moving down to levels testing the $5.000 per million British thermal units mark as July cargoes for North Asia were the only bright spot at above US$5.500 per MMBtu.
The Singapore average index for June dropped to US$5.035 per MMBtu from last week’s June average of US$5.203 per MMBtu.
Singapore’s latest LNG indices released on April 25 included a price of US$4.847 per MMBtu for the second half of May and slightly higher at US$4.984 per MMBtu for the first half of June.
Prices were quoted as a surplus in global LNG supplies permeated the Northern Hemisphere summer market as other energy trading products benefited from crude oil prices this week of around $74 per barrel.
Cargo prices for the second half of June were at US$5.086 and were higher for the first half of July at US$5.248.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).
It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.
The North Asia price also fell to a June average of US$5.305 per MMBtu versus last week’s June average of US$5.554 per MMBtu.
North Asia cargoes for the second half of May were also lower week-on-week at US$5.107 per MMBtu, before rising for the first half of June to US$5.254 per MMBtu, then moving even higher to US$5.355 for the second half of June.
The first half of July quote for North Asia was the highest on the board at US$5.519 per MMBtu.
The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.
The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.177 per MMBtu for June, an increase from last week’s June average of US$5.327 per MMBtu.
The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of May at US$4.978 per MMBtu before increasing to US$5.135 per MMBtu for the first half of June.
The price for the second half of June jumped to US$5.220 per MMBtu and increased further for the first half of July to US$5.388 per MMBtu.
The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.
It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.
The Sling is based on participants submitting assessments to determine an index value.
“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.
The SGX-EMC LNG prices include both lean and rich cargoes.
Singapore LNG prices edge higher with July North Asia summer cargoes setting the pace
Singapore LNG spot cargo indices began moving to levels above the $5.500 per million British thermal units mark as July quotations made an appearance for North Asia just below US$5.800.
The Singapore average index for June was at US$5.203 per MMBtu, rising from last week’s May average of US$4.876 per MMBtu.
Singapore’s latest LNG indices released on April 18 included a price of US$5.055 per MMBtu for the second half of May and higher at US$5.136 per MMBtu for the first half of June.
Prices were quoted on the basis of the surplus in global LNG supplies as Northern Hemisphere summer season trades began amid a solid crude oil price this week of over $70 per barrel.
Cargo prices for the second half of June were at US$5.270 and were higher for the first half of July at US$5.395.
The Sling is an index series for LNG developed by the Singapore Exchange (SGX) and its subsidiary Energy Market Company (EMC).
It is a spot index for cargoes “on the waters in the vicinity of Singapore which could go into any port” and based on cargo sizes of 135,000 cubic metres capacity to 175,000 cubic metres capacity.
The North Asia price increased to a June average of US$5.554 per MMBtu versus last week’s May average of US$5.100 per MMBtu.
North Asia cargoes for the second half of May were at US$5.386 per MMBtu, before rising for the first half of June to US$5.469 per MMBtu, then jumping to US$5.639 for the second half of June.
The first half of July quote for North Asia was the highest on the board at US$5.788 per MMBtu.
The North Asia prices are for delivery ex-ship (DES) to all ports in Japan, Korea, Taiwan and China.
The Dubai-Kuwait-India Sling index is assessed in collaboration with London-based, inter-dealer global brokerage Tullett Prebon for regional cargoes shipped to India and the Middle East and averaged US$5.327 per MMBtu for June, an increase from last week’s May average of US$4.990 per MMBtu.
The DKI index, based on a cargo of between 138,000 cubic metres capacity and 170,000 cubic metres, is seen in the second half of May at US$5.197 per MMBtu before increasing to US$5.253 per MMBtu for the first half of June.
The price for the second half of June jumped to US$5.400 per MMBtu and increased further for the first half of July to US$5.533 per MMBtu.
The SGX LNG Index Group (Sling) is an initiative by SGX and EMC for spot LNG price discovery.
It is a benchmark based on assessments of LNG cargo value by market participants. They provide assessments based on the value of an LNG cargo at a specific location for delivery.
The Sling is based on participants submitting assessments to determine an index value.
“The participant pool consists of a broad group of market players to ensure that any Sling Assessment is as representative of actual market conditions as possible,” says the SGX, while pointing out that the participant is kept confidential at all times.
The SGX-EMC LNG prices include both lean and rich cargoes.
Keppel Gas of Singapore receives first LNG spot shipment from US to reduce customer costs
Keppel Corp. of Singapore completed its first liquefied natural gas import shipment from the US under the city-state’s import policy allowing wholesale gas customers to receive up to 10 percent of their annual long-term contracted LNG volumes on a spot cargo basis.
Keppel said the 160,000 cubic metres spot cargo reached the Jurong Island terminal on April 10 and would be regasified as feedstock for downstream customers and end-users during the next 30 days.
The company’s Keppel Gas natural gas supply customers include long-term pipeline and LNG contracts holders.
“Such recurring spot LNG import opportunities help to bolster Keppel’s supply portfolio, complementing its long-term pipeline gas import business,” said the company.
The General Manager of Keppel Infrastructure, Janice Bong, said the delivery was part of the company’s strategy of widening its presence in the gas value chain to deliver competitive gas supplies promptly.
“By tapping the opportunities offered by the spot LNG market, we are able to ride on global trends to support our integrated energy business over the long term,” she explained.
Keppel Gas is an importer, shipper and retailer of natural gas in Singapore's liberalized gas market.
The imported natural gas is supplied to a portfolio of major refineries, petrochemical companies, industrial companies and Keppel Merlimau Cogen, a 1,300 megawatt combined-cycle gas power station.
Singapore LNG Corp., operator of the import terminal, is also widening its activities and in February 2019 completed modifications to its secondary jetty on Jurong Island.
SLNG said its terminal can now handle small-scale vessels with capacities of between 2,000 cubic metres and 10,000 cubic metres and the ships were able to receive and reload shipments.
The modifications include the installation of a new marine loading arm and gangway, as well as new facilities for securing smaller ships at the jetty.
SLNG is additionally considering building a fifth storage tank after its fourth tank was put in service in 2018 and has an even larger capacity than the other three at 260,000 cubic metres, offering LNG traders more options and flexibility.
The SLNG facility’s three other storage tanks each have a capacity of 188,000 cubic metres and 540,000 cubic metres in total.
The terminal is owned by the Singapore Energy Authority and is located on a 40-hectare plot at the southern tip of Jurong Island.
It has been in operation since 2013 and can handle the largest LNG carriers from Qatar.
The fifth tank will have storage of either 188,000 cubic metres or 260,000 cubic metres and SLNG has issued an expressions of interest notice to customers.
Preferred usage terms for the fifth tank are of at least 15 years starting by around 2022.
