LNG

European Union liquefied natural gas prices remained strong and attracted cargoes amid unprecedent summer demand underpinned by global oil prices, while Asian spot LNG cargo values settled lower as a rebound was awaited in imports by China and India.

South Korea, the world’s third-largest liquefied natural gas importer, is feeling the impact of increasing LNG prices and has just continued a freeze on power prices into the third quarter of 2021.

The South Korean government has approved a draft law for the nation to be at the forefront of developing eco-friendly ships powered by clean fuel such as LNG at its world-leading shipyards.