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.

Liquefied natural gas cargo liftings increased and while front-month North Asia spot LNG cargo prices declined along with European benchmarks from records earlier in the week, the March and April spot values for China, Japan and South Korea jumped compared with last week, showing sustained demand further out.