Global Spot Prices Rise Again on Persistent Market Tightness

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Northeast Asian spot LNG prices soared by $2 to $34 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $1.30 higher at $28.20/MMBtu. The UK National Balancing Point day-ahead price was assessed $1.03 higher at $28.16/MMBtu, while the ICE December front-month contract rose by 81¢ to $28.29/MMBtu. Netbacks for Mideast sellers in Asia were about $5.45/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks were $5.90/MMBtu lower than in Asia.

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