Global LNG prices rise as Egypt, Jordan ready major tender awards

sian liquefied natural gas (LNG) prices for November delivery jumped higher this week following bullish tender results from Australia and Indonesia, as the arbitrage window between Atlantic and Pacific markets closed.

But all eyes were on Egypt and Jordan which were expected to award large purchases over the weekend, set to be the highlight of the trading calendar.

Egypt's state-run EGAS is set to finalise its 45-cargo LNG purchase tender this weekend, after inviting around seven companies to Cairo to discuss the result and iron out details.

Jordan's National Electric Power Company is due on Sunday to award an even bigger purchase tender for up to 78 cargoes between 2016-2019, traders said.

Asian spot LNG prices rose to around $6.80 per million British thermal units (mmBtu), compared with $6.60/mmBtu last week.

Gains were attributed to the recent award of cargoes from Indonesia's Tangguh export plant, which on Sept. 21 opened a tender to sell five cargoes between November and December.