LNG

European liquefied natural gas prices declined for a fourth week even as some European Union nations began drawing on record storage levels attained without Russian pipeline gas while North Asian spot cargo prices increased and cargo flows were high to China.

Demand for liquefied natural gas cargoes surged worldwide as liftings fell amid concerns about a coming global shortage of supplies leading to a jump in North Asian spot cargo prices to over $16.00 for October delivery and European natural gas values reaching their highest for the season since the early 2000s.