Having started January at $9.7/MMBtu spot prices in the Asian LNG market strengthened to hit $10.45/MMBtu January 21 as buyers sought cargoes for late February delivery. Demand for March cargoes was muted, but cold weather across north Asia drove Chinese and Korean buyers into the market for prompter cargoes. China's CNOOC launched a buy tender for two second-half February cargoes. China's northeastern regions were expected to see temperatures as low as minus 48 degrees Celsius towards end-January. South Korea's Kogas was also reported to be actively sourcing two late February cargoes.
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