Asian LNG derivatives for November trades over $20/mmBtu

Derivatives for liquefied natural gas (LNG) for November traded at above $20 per million British thermal units (mmBtu) on Wednesday, data from price agency S&P Global Platts showed.

PetroChina sold 25 lots of November derivatives to Trafigura at $20.40 per mmBtu, the data showed.

Traders typically take guidance from derivatives trades to price their physical cargoes.

A jump in European wholesale gas prices after Gazprom comments that the launch of the Nord Stream 2 pipeline will not have any major impact on its exports to Europe this year, is also boosting Asian LNG prices, traders said.

This also comes at a time when demand for the super-chilled fuel starts to increase from buyers in the northern hemisphere to meet heating demand in winter.