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SPOT LNG: Prices Go Stratospheric After Russia Limits Extra Shipments

Copyright © 2021 Energy Intelligence Group
LNG Tanker 6006836-lng-tanker-b

Northeast Asian spot LNG prices surged by $3.40 to $25 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $5.70 higher at $25.70/MMBtu, opening a small — if potentially short-lived — premium. The UK National Balancing Point (NBP) day-ahead price was assessed $4.57 higher at $25.89/MMBtu, while the October front-month contract leapt $4.70 to $25.91/MMBtu. Netbacks for Mideast sellers in Asia were, unusually, about 70¢ lower than in Southwest Europe, while UK/Belgian netbacks were just over 70¢/MMBtu higher than in Asia.

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