Last checked at 
By Sabrina Valle
June 25 (Reuters) - Asian spot prices for liquefied natural
gas (LNG) rose this week on firm demand for the power generation
fuel, as a warmer than usual summer in different parts of the
world boosted electricity usage for air-conditioning.
The average LNG price for August delivery into Northeast
Asia <LNG-AS> was estimated at about $12.50 per million British
thermal units (mmBtu), up $0.80 from the previous week, industry
sources said.
Temperatures in Beijing, Tokyo, Seoul, and Shanghai are
expected to be higher than average over the next two weeks,
weather data from Refinitiv Eikon showed, which could reduce
inventories and increase gas demand for cooling.
In the United States, forecasts for hotter weather over the
next two weeks also helped push natural gas futures to a
29-month high, at a time of smaller-than-expected storage build
and rising exports.
Europe gas storage is below the average of the past five
years, increasing demand for restocking.
"You have more air-conditioning use and low stocks pushing
prices up," one London-based trader said.
Disruptions on the supply side also kept the market tight.
Russian producer Sakhalin Energy said it plans to stop output
for around a month starting in July to carry out maintenance.
Competition between Asian and European buyers for cargoes
has increased. Taiwan surprised the market by seeking a 10-cargo
purchase for delivery between August and December, and offers
due on June 28.
BP offered $0.10 over the Platts LNG benchmark known as KJM
for a cargo for August delivery to PipeChina Tianjin, in China.
Petronas sold a cargo from PFLNG Dua for delivery in August
for around mid-$12.
A group behind a terminal project to import LNG into
Brunsbuettel on the German North Sea said it will ask https://www.reuters.com/business/energy/german-lng-terminal-group-brunsbuettel-seeks-building-permission-2021-06-24
authorities by the end of June for planning permission, in a
decisive step for the project.
(Reporting by Sabrina Valle; editing by David Evans)
