European LNG prices remain stronger than Asia’s even as EU gas storage is high and the weather mild
European Union liquefied natural gas prices were still solid this week and stronger than those for Asia even as the weather turned mild and Germany’s gas storage was over 64 percent filled despite only very small volumes of LNG reaching the German floating import facilities as they continued commissioning and set-up activities.
LNG prices increase as demand rises with North Asia spot cargo values at over $13.00 per MMBtu
The prices of liquefied natural gas on global markets increased to their highest in 2021 in Europe while the spot LNG cargo price for North Asia rose over the $13.00 per million British thermal units level amid oil market concern about US supplies as the differential between North Sea Brent crude and US oil narrowed to well under a dollar.
Demand for LNG supports continued firm prices as European and Asian buyers are offered fewer cargoes
Liquefied natural gas cargo liftings are decreasing this week while North Asian spot cargo prices and benchmark European values were still strong after the Dutch Title Transfer Facility price reached a 2021 high and North Sea Brent crude was at levels not seen for two years.
Global demand stays firm for LNG and at higher prices in North Asia, India and European markets
Demand for liquefied natural gas cargoes continued at a high seasonal level as liftings increase this week along with prices at all points, including North Asia spot volumes, Indian delivered cargoes, US Gulf Coast futures and Dutch and UK European gas values.
LNG cargo liftings still at high levels as North Asia spot prices rise again along with European gas values
Demand for liquefied natural gas shipments from liquefaction plants in the Atlantic and Pacific Basins remained at reasonable levels as cargo liftings edged higher and North Asia spot prices increased again along with European gas values.
