Summary of Asia LNG Market (19 February):
East Asia LNG prices for April fell to $14.115 per MMBtu, marking a 12.7% decline from mid-last week, following bearish trends from Europe but influenced by regional factors.
Asia LNG Supply Disruptions
Cyclone Zelia temporarily closed ports in Western Australia, delaying cargo loading at major LNG facilities (North West Shelf, Pluto, and Prelude), causing a short-term supply tightening.
Weather Outlook
Japan: The Japan Meteorological Agency forecasts a 70% chance of below-normal temperatures in western Japan and 60% in central Japan, though a warmer spell is expected by early March.
China & South Korea: Temperatures are also expected to milden by late February, reducing heating demand.
Inventory Levels
M LNG inventories at major utilities dropped 6.5% week-on-week to 2.01 million tonnes (Mt), below the long-term average of 2.18 Mt, but the mild March forecast suggests no immediate supply concerns.
Power Plant Outages in Japan
L 566 MW Takasago Plant (Mitsubishi Heavy Industries) – Offline 15-18 Feb due to equipment failure.
380 MW Futtsu Unit 3-1 (Jera) – Outage on 16 Feb, expected to resume on 20 Feb.
153 MW Kimitsu Unit 6 – Fuel-related outage on 17 Feb, expected back by 20 Feb. RYSTAD
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