LNG

North Asian spot cargo prices increased on the week though the differential remained at almost $10 in favour of the Dutch Title Transfer Facility European Union benchmark price as net withdrawals from EU gas storage increased because of sub-zero temperatures in the region.

Germany, the leading European Union economy with plans for about half-a-dozen LNG import projects to replace halted Russian pipeline gas, has seen spot natural gas prices drop by over 55 percent since a government energy package was unveiled and the nation’s gas storage levels jumped to be almost full.