LONDON - Asian liquefied natural gas (LNG) prices for December delivery rose this week, buoyed by a short-term tightness in supply, though an imminent wave of new projects is expected to put prices under pressure in the new year. The price of Asian spot cargoes for December delivery rose to $7.70 per million British thermal units (mmBtu), from around $7.50/mmBtu last week. Traders said that prices for January were also firm, in line with December, but then weakened from February as more supply was expected to come online from new projects. “Not as many cargoes have come out in November and December as had been expected because AP LNG is being a bit delayed and Gladstone is towards the back-end of when people had expected it,” said a trader referring to new Australian supplies. “Barring any major event the volume is all coming, Gladstone is more or less there, AP LNG is around the corner, then you have Sabine coming up in January.” Cheniere Energy’s landmark Sabine Pass LNG export plant in Louisiana will receive its first tanker for loading on Jan. 12, according to ship-tracking data and a source with knowledge of the plant’s operations. Traders said that Australia’s Gladstone LNG plant has tendered to sell at least two cargoes for loading in the first quarter of next year. “Up until December/January prices are strong, partially because of availability,” a second trader said. Weak demand in top markets Korea and Japan has weighed on LNG prices this year, with Korea Gas Corp this week agreeing with the trading arm of France’s EDF to offload billion-dollar supply commitments signed when demand was peaking early this decade. “There isn’t a massive amount of strong demand out there. Japan is turning everything down. There’s been lots of negotiations to defer cargoes,” the first trader said. “Their tanks are just full, they can’t physically take any more volume. Demand is not there compared with the volume they have contracted.” On a more positive note, fresh demand emerged from Pakistan with the Pakistan State Oil Company launching two tenders on Monday to buy a total of 120 cargoes of LNG over five years.