LNG

European and Asian liquefied natural gas prices and wholesale values fell again as European Union gas storage continued its early build while Germany and China were receiving more cargoes.

European natural gas and LNG prices dropped by another 9.5 percent on the week as gas storage levels were high in Europe and energy demand in North Asia was seen gaining to underpin the Japan-Korea Marker price for spot cargoes.

European and Asian LNG prices increased again and with the Europe-Asia differential widening to $8.65 per million British thermal units, while crude oil also surged on the week on concerns about the impact on global energy supplies of the Ukraine war and much reduced Russian oil and gas volumes for Western markets.