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Platts: Asia LNG Spot Prices for January Cargoes Up 15.5% in December on Short Supplies, Cold Weather
Year-over-Year LNG Prices for January Delivery Fell 9.4% from December 2011

SINGAPORE, Dec. 18, 2012 /PRNewswire/ -- Asia liquefied natural gas (LNG) spot prices for month-ahead delivery rose 15.5% in December from November to $15.63 per million British thermal units (/MMBtu), according to the latest monthly Platts Japan/Korea Marker (JKM) price assessment data.

"Spot market prices for January-delivered LNG were affected by increased demand from North Asian utilities, especially after colder-than-average winter weather forced them to start drawing heavily on their inventories," said Sarah Cottle, editorial director, power at  Platts, a leading global energy, petrochemicals and metals information provider and a premier source of benchmark price references.  "However, in more recent days following the restart of previously shut plants like Nigeria LNG and Indonesia's Tangguh LNG, buyers showed reluctance to raise their bids, despite otherwise tight supply fundamentals."

The latest monthly Platts JKM average for month-ahead delivery, or delivery in January 2013, was assessed over the period of November 16 to December 14, 2012.

On a year-over-year basis, the Platts JKM price assessment for January 2013 delivery, as assessed in December 2012, was down 9.4% from the Platts JKM price assessment for January 2012 delivery, as assessed in December 2011, when strong demand from Japanese utilities to replace lost nuclear power generation caused prices to rise to $17.25/MMBtu.

The Platts JKM is an assessment of LNG prices for spot cargoes delivered to Japan and South Korea, based on the most recent trades and/or bids and offers from buyers and sellers in the open market prevailing at the close of the trading day. The monthly JKM assessments reflect prices for cargoes for month-ahead delivery and are an average of the daily JKM price assessments reported by Platts.

The rise in the December month-ahead spot LNG price for cargoes to be delivered in January 2013 compares to a 4.0% month-on-month gain in LNG spot prices seen for December-delivered shipments. In addition, this is the fifth consecutive month that the price for month-ahead-delivered cargoes has fallen on a year-over-year basis, after the Platts JKM recorded its first ever year-on-year decline for September-delivered cargoes in August. The January average was assessed over the period of November 16-December 14.

Meanwhile, the prices of substitute fuels, thermal coal and fuel oil, which are alternatively used by Asian utilities, dropped 3% and 2% respectively for the month.

Platts Spot JKM LNG and Substitute Fuel Prices
(Monthly Averages for month-ahead cargoes in $/MMBtu)*


Jan-13

Jan-12

Dec-12

Year-On-
Year
Change %

Month-On-
Month
Change %

JKM

15.63

17.25

13.53

-9.42

15.53

Qinhuangdao Coal

4.23

5.36

4.35

-21.11

-2.74

180 CST fuel oil

15.94

17.64

16.27

-9.68

-2.03

Source: Platts

For more information on natural gas or the methodology used by Platts in its power assessments, visit the Platts website www.platts.com.

Platts' monthly reports on Asia LNG prices and market developments are typically published shortly after the 15th of each month.

*Figures in the table are monthly averages of daily values assessed by Platts from November 16th to December 14th. Platts JKM rolls on the 16th of each calendar month.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets.  A division of The McGraw-Hill Companies (NYSE: MHP), Platts is headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at http://www.platts.com.

About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.

SOURCE Platts

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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