SINGAPORE: Loadings of liquefied natural gas (LNG) cargoes at Malaysia's Bintulu export plant, which is operated by Petronas, have been delayed due to lower production, two industry sources said on Wednesday.
The loadings were delayed due to minor glitches at the plant which have since been resolved, one of the sources said.
Lower Asian spot prices for LNG, which hit a 17-month low last week, are also curbing output in Malaysia, a second source told Reuters.
"The production is just enough to fulfil (term) obligations," the source said, adding that spot volumes are currently limited.
The last LNG cargo left the facility on Wednesday after loading on Feb. 12, according to Refinitiv Eikon ship-tracking data. Seven LNG tankers are currently anchored outside the 24 million tonne per annum (mtpa) facility, it showed.
Petronas did not immediately reply to Reuters' request for comment.
Both sources declined to be identified as they were not authorised to speak with media.
"Demand is just not there, so the prices keep dropping rapidly," the second source said.
A warmer than expected winter and new supply from Australia and the United States are also weighing on spot prices.
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