On December 31 Reuters reported Asian spot prices for LNG jumped 17% this week, riding six-year highs, as a cold spell in some countries prompted record imports into the region. The average LNG price for February delivery into Northeast Asia was estimated at about $14.60 per mmBtu, up $2.10 from the previous week, sources said. Spot Asian LNG prices have led the energy complex this year, gaining more than 140% on booming demand and outages in key suppliers. They had dropped to a record low of below $2 per mmBtu in May amid coronavirus-induced lockdowns, but have quickly rebounded in the fourth quarter this year amid an economic recovery in Asia and a cold spell.
U.S. exports facilities are running at maximum capacity near 11 Bcf per day.
LNG prices are WAY UP - Jan 4
LNG prices are WAY UP - Jan 4
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group