Let's try and ignore oil price for a second and focus on what woodside does best.
Asian spot LNG prices have jumped by more than 40% since the start of the month due to firm demand and production issues.Oil major BP this week sold an LNG cargo for delivery into Northeast Asia in December to Vitol at $7.65 per mmBtu,
S&P Global Platts data showed.China’s natural gas demand is likely to grow about 10% this winter, up from 0.3% last winter, as a strong economic recovery from the coronavirus crisis spurs residential and industrial demand, state-run oil majors said this week.Europe, China and Korea could experience a colder-than- normal winter by 2-3 degrees Celsius, which would be positive for LNG demand, analysts at Bernstein said.“With the prospect of a cold winter ahead, prices could go higher but further shutdowns due to COVID-19 appear to be a real risk.”
This is higher what they expected since last update.
Source Reuters, google LNG Spot Asia
Period.
WPL buy, page-754
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