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Spot LNG

High Storage Levels Dampen Asian Spot Buying Interest

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Northeast Asian spot LNG prices dropped by $1.50 to $45.50 per million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Spot prices in Southwest Europe were assessed $2.70 lower at $44.75/MMBtu. The UK National Balancing Point (NBP) day-ahead price was assessed 29¢ up at $32.83/MMBtu, while the September front-month NBP ICE contract was up 12¢ at $42.89/MMBtu. Netbacks for Mideast sellers in Asia were about 73¢ higher than in Southwest Europe, while UK/Belgian netbacks were $12.73/MMBtu lower than in Asia.

Topics:
Gas Demand, Gas Inventories, Gas Prices, Gas Spot Markets, LNG Spot Trade, LNG Demand
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