Yahoo Finance Global LNG-Prices climb as trading activity picks up
* Trafigura expected to win Pakistan's latest tender
* Indonesia's Donggi Senoro export plant ramps up
By Sarah McFarlane and Oleg Vukmanovic
LONDON/MILAN July 3 (Reuters) - Asian liquefied natural gas (LNG) spot prices for August delivery rose on Friday, with a pick-up in activity driven by trading houses and portfolio players manoeuvring volumes between the competitively priced Atlantic and Pacific basins.
The price of Asian spot cargoes rose to $7.55 per million British thermal units (mmBtu), from $7.30 the previous week.
"In the last five days prices have changed significantly," said a trader.
"It's not a particular shift in end-user demand or producer supply, it's not like suddenly the significant Japanese, Korean, Chinese end-users have unveiled new demand, it's not that, but we do have ongoing tenders."
State-run Indian Oil Corp has launched a tender to buy an LNG cargo for delivery on Aug. 6-7.
Commodity trader Gunvor is to supply Pakistan with three LNG cargoes from August through October after a recent tender in which all other participants were disqualified.
Traders said that Gunvor recently reloaded a cargo from Spain and may use these to supply Pakistan.
The latest tender from Pakistan for two cargoes for July is expected to be awarded to Trafigura, traders said, although results are not expected to be officially announced until Wednesday.
"It's for July, we're in July, so it's super prompt. I think it's a challenge for players really, but obviously Trafigura has been investing in its storage position in Singapore in order to be prepared for exactly this scenario," said a trader.
Earlier this week traders said Trafigura had bought a cargo from Australia's Pluto export plant for delivery into its newly acquired storage capacity at Singapore's import terminal in mid-July.
The Swiss-based trading house is also set to pick up a cargo from Britain's Isle of Grain import terminal, which was sold to it by British utility Centrica.
On the supply side Indonesia's new Donggi Senoro LNG export plant, which began ramping up last month, has sold its first cargo to state-run company Pertamina's Arun import terminal for delivery in late July-early August.
The plant plans to produce 13 cargoes this year, six of which will go to buyers such as Japanese trader Mitsubishi and utility Kyushu Electric as well as Korea Gas Corp., while a further six cargoes will be earmarked for spot markets, Aditya Mandala, corporate affairs director at Donggi Senoro LNG said.
Abu Dhabi's ADGAS has launched a sell tender for August, while Nigeria's Bonny LNG has launched a sell tender for July.
Indonesia's Tangguh liquefied natural gas (LNG) export plant has sold a total of three cargoes to BG Group and BP , for July/August loading.
Global supplies remained ample, with limited disruption beyond ongoing issues in Yemen.
A spokeswoman for Australia's North West Shelf denied talk this week of additional power supply problems last weekend at the plant. (Additional reporting by Wilda Asmarini; Editing by Susan Fenton)
