Spot LNG: Prices Reach New Pre-Winter Highs in Asia and Europe

Copyright © 2021 Energy Intelligence Group

Northeast Asian spot LNG prices jumped $1.45 to $21.60 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $1.75 higher at $20/MMBtu. The UK National Balancing Point (NBP) day-ahead price was assessed $2.86 higher at $21.32/MMBtu, while the ICE October front-month contract leapt $2.66 to $21.21/MMBtu. Netbacks for Mideast sellers in Asia were about $1.60/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks were almost 45¢ lower than in Asia.

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