NW Shelf Australia LNG: Spot Asian LNG Demand Near Disappeared
August 09 2009 - 11:22PM
Dow Jones News
North West Shelf Australia LNG President Peter Cleary said
Monday that demand for spot liquefied natural gas cargoes in Asia
has almost vanished as a result of the global economic
downturn.
Demand for spot cargoes "in Asia, and Japan in particular, has
almost disappeared", Cleary said at the fourth annual LNG World
Conference.
North West Shelf Australia LNG is the marketing unit for the
Woodside Petroleum Ltd.-operated (WPL.AU) venture in Western
Australia state.
In 2008, nearly all of the North West Shelf venture's production
was sold under contract to long-term buyers, Cleary said. However
this year, following an expansion in late 2008, the North West
Shelf has sold spot cargoes to India and Europe and recently
discharged a cargo in Kuwait, he said.
-By Stephen Bell, contributing to Dow Jones Newswires;
61-8-9244-4243; sgbell@bigpond.com