Platts JKM for LNG deliveries in November ended the week at $6.225/MMBtu, unchanged from last Friday, while the average of the December JKM assessments rose to $6.575/MMBtu.
JKM remained stable for November deliveries as ongoing Indian and Korean buying was balanced by further supply momentum, partly from liquefaction projects' production ramp-ups, sources said.
December prices rose as Kogas tendered for cargoes, partly as a result of Korea's partial nuclear shutdown, according to traders.
Indian Oil Corp.'s single-cargo tender, which closed early October for delivery mid-November, was said to have been awarded at around $6.15/MMBtu DES.
GAIL and PTT's buy tenders, also for November delivery but which closed earlier than IOC's, were awarded at around $6/MMBtu DES, according to traders.
Further November demand emerged from BPCL, through a single-cargo tender heard awarded to Glencore, and Kogas's tender for one cargo/month from November-February.
On the supply side, Angola continued its production ramp-up by loading approximately one cargo/week, while APLNG engaged in bilateral discussions to sell a cargo.
APLNG's cargo is to be lifted October 18 and was sold at around $6.30/MMBtu DES, according to sources.
In addition, ADGAS tendered for one sell cargo for October 8-9 loading, which was heard awarded to Itochu at $6.30-6.40/MMBtu.
The largest LNG supply tender for the remainder of 2016 was heard from Sakhalin, for four cargoes spread across December dates. The tender closed Wednesday and, according to traders, the cargoes were awarded to Gazprom and Shell above $6.80/MMBtu.
The tender was open to long-term buyers, plant offtakers, and North Asian end-users, according to traders.
On Monday APLNG train 2 said it had produced its first cargo and, in the US, Sabine Pass should restart production next week following maintenance.
ExxonMobil was expected to offer a prompt loading cargo from Gorgon this week. Looking further out, Indonesia's Pertamina issued a tender Tuesday offering up to two LNG cargoes/month on a DES or FOB basis for loading over 2017.
The tender will close Monday, with one month validity. Offers are to be submitted with a linkage to Japan's JCC and without a constant.
