LNG

Southern Energy Corp., the established producer with natural gas and light oil assets in the northern US Gulf Coast, has posted earnings for the first quarter affected by declining gas prices compared with last year.

Demand for liquefied natural gas increased and the number of cargo liftings rose even as the price of Asian spot shipments jumped to over $23 and European values stayed high after a week of records amid very tight supply for the end of the Northern Hemisphere summer season.