* Nigeria, Australia tender results due next week
* Lower market to stimulate demand in price sensitive buyers
By Sarah McFarlane
LONDON, Jan 9 (Reuters) - Asian spot liquefied natural gas (LNG) prices slipped on Friday as well stocked buyers in the region remained mostly on the sidelines.
The spot price LNG-AS for February fell to around $9.90 per million British thermal units (mmBtu), down from around $10.10 the previous week.
“There’s no end user demand at the moment,” a trader said.
Sliding oil prices were in focus as prices slumped again on Friday after two days of relative stability, hitting 5-3/4 year lows in search of a bottom to the market’s six-month-long rout.
LNG prices have also been in slow decline over this period with projects launched in recent years expected to have been particularly hit by the fall in oil.
“Any project operating before 2005 is not seeing a big impact,” said a second trader.
Until 2004 oil prices were consistently below $50 a barrel, therefore LNG projects were planned on that basis, as oil prices have long been used to help calculate LNG contract values.
More recently many projects were planned on the assumption of $100 oil.
The fall in LNG prices was expected to help stimulate demand in price sensitive markets including India and Turkey, although traders were not aware of any new deals being closed this week in those countries.
Traders awaited results for tenders from Nigeria and Australia due next week.
Short lists for Egypt’s tender and also the first joint tender by Tokyo Electric Power Co and Chubu Electric Power Co were expected to be finalised on Friday, traders said.
In the US, Excelerate Energy will import liquefied natural gas (LNG) into its long-dormant Northeast Gateway Deepwater Port, marking the facility’s first cargo since 2010.
“With prices coming off and the weather getting cold through the Mid-West and North-East of the States maybe the premiums that you’re seeing up there might start to make sense relative to some of the other options you have,” a third trader said. (Additional reporting by Oleg Vukmanovic in Milan; Editing by Michael Urquhart)