Spot LNG

Spot Prices Continue Dizzying Ascent in Asia and Europe

Copyright © 2021 Energy Intelligence Group

Northeast Asian spot LNG prices continued to climb, gaining $1.65 to $20.15 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $1.25 higher at $18.25/MMBtu. The UK National Balancing Point (NBP) day-ahead price was assessed $1.37 higher at $18.46/MMBtu, while the ICE October front-month contract jumped $1.68 to $18.55/MMBtu. Netbacks for Mideast sellers in Asia were about 70¢/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks were roughly 60¢ lower than in Asia.

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