LNG

European natural gas and LNG prices soared again and sent a chill through the mid-summer energy markets with elevated winter prices arriving early and similar to seven months ago while North Asia spot values jumped amid the expectation of more competition for cargoes.

The liquefied natural gas market continued to display seasonally high prices for shipments to China, Japan and South Korea as cargo liftings stayed above 100, while European benchmark LNG values slipped after previously hitting 2021 highs.