LNG

European prices for LNG tumbled in the past week and Asian cargo prices fell as the winter season wound down with mild weather and a global gas glut that also sent the US Henry Hub spot and futures prices crashing to under $1.60 per million British thermal units.

Europe’s benchmark natural gas and LNG cargo prices lost some ground on the week but were still over $39 per MMBtu higher than last summer before the Russian gas supply crisis and remained $12 per MMBtu ahead of North Asia spot cargo valuations as liftings from global liquefaction and export plants increased.