LNG

Asian liquefied natural gas spot prices dropped as cargo liftings increased while the European Union wholesale gas benchmark declined for a fourth week to just over $10 per million British thermal units exactly one year after hitting more than $50 per MMBtu.

Worldwide liquefied natural gas and wholesale pipeline market prices and futures skyrocketed by nearly 50 percent in the past week as US Gulf Coast LNG cargo values hit $18 per million British thermal units for December even amid current substantial European Union gas storage levels as doubts resurface about Western energy security policies.