SPOT LNG: Prices Inch Down in Asia and Europe on More Supply

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Northeast Asian spot LNG prices inched down 50¢ to $34.50 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $1 lower at $31/MMBtu. The UK National Balancing Point day-ahead price was assessed 23¢ higher at $28.50/MMBtu, although the ICE November front-month contract fell $4.31 to $28.27/MMBtu. Netbacks for Mideast sellers in Asia were about $3.30/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks were $6.10/MMBtu lower than in Asia.

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