Global LNG-Egypt takes centre stage after shortlist and Russian deals

viernes 4 de septiembre de 2015 11:34 GYT

* CNOOC launches first-ever LNG sell tender

* Egypt shortlists potential tender winners - traders

* Rosneft backed by Shell in Egypt deal - traders

* Gazprom doubles supply commitment with Egypt-Novak

By Oleg Vukmanovic

MILAN, Sept 4 (Reuters) - Asian liquefied natural gas (LNG) prices sank this week as fresh supply emerged from traditional Chinese buyers looking to trim their intake, underscoring how markets have shifted into an era of oversupply.

But all eyes were on Egypt as Russian energy giants doubled down on their LNG commitments and traders found out whether they had passed through to the next round of a multi-billion-dollar buy tender.

The price of Asian spot cargoes for October delivery fell to around $7.50 per million British thermal units (mmBtu) on Friday, from around $7.60 per mmBtu last week.

Subdued Asian demand kept deal-making to a minimum as traders awaited the outcome of piecemeal sale tenders launched over recent weeks.   Continuación...