Singapore — Platts JKM for cargoes delivered in April ended the week at $4.25/MMBtu Friday, down 10 cents/MMBtu week on week, on excess supply and lower offers.
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Offers for first-half April delivery fell to $4.30/MMBtu, while other selling and buying indications for the month were heard steady, in the mid-$4s/MMBtu and low-$4s/MMBtu, respectively.
More volumes could become available from Russia's Sakhalin-2, which has now reached full production after a five-week partial shutdown, traders in Asia said Friday.
The plant's operator, Sakhalin Energy, informed buyers that the plant had reached full operation rates as of March 2.
A force majeure was declared January 28 after a power outage at the plant, which reduced LNG production at the two-train facility to 50%.
Additional volumes were also available in Australia, where Chevron was heard to be marketing prompt cargoes from the Gorgon LNG plant, but the timeline and volume of deliveries could not be confirmed.
There was further confirmation of a deal done by Monday, February 29, at around $4.30/MMBtu for delivery to India in April.
Sources said Indian utility Gail and a European portfolio seller could be the counterparties of the transaction.
In the Atlantic, Argentina's Enarsa issued a tender Thursday, seeking 15 DES cargoes -- eight partial cargoes to Escobar and seven full-sized cargoes to Bahia Blanca -- for delivery over March-May.
The tender closes March 15, with validity until March 16.
Traders said Enarsa's tender was likely to have some impact on Atlantic supply and demand, but unlikely to affect pricing in the Asia-Pacific region.
"I think Trinidad and European reloads, which were not workable for deliveries to the East of Suez, could be absorbed into Argentina," a trader said.
Another trader said it wold have "some impact on the Atlantic market at least," adding that sellers of cargoes from Trinidad, Nigeria, Equatorial Guinea and Snohvit would likely participate in the tender.
Enarsa last sought nine LNG cargoes via tender for delivery over January-March in a tender that closed January 1, and awarded eight.
Gas Natural was awarded seven cargoes for delivery to Escobar and BP awarded one Bahia Blanca March slot at $5.50-$6/MMMBtu DES.
A slot for delivery in February was left unawarded.
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--Edited by Jonathan Fox, firstname.lastname@example.org