Global LNG prices lose ground on week as EU storage builds but volatility persists amid shipping insecurity
Global liquefied natural gas and spot and future wholesale pipeline gas prices lost some ground over the past week though the market remained volatile as shipping insecurity on Middle East routes was expected to last into 2025.
European natural gas and LNG prices skyrocket by 47 percent on geopolitical and energy security concerns
European natural gas and LNG prices skyrocketed by 47 percent on the week to their highest level since mid-February as geopolitical and energy security tensions gripped the Atlantic Basin and Mediterranean markets while North Asian spot cargo prices rose by just over 5 percent.
Exports of LNG stay firm in Pacific and Atlantic Basins amid seasonal lower but stable Asia spot prices
Production plants for liquefied natural gas are loading fewer cargoes this week as North Asia spot prices are well down on recent record levels, though shipments from March onwards are at higher prices than a week ago.
Cargo liftings rise as Asia LNG spot price jumps to $9.20 per MMBtu and Brent hits $50 a barrel
Cargo liftings of liquefied natural gas increased worldwide for a fifth week, and likely the highest of 2020, as North Asia spot LNG prices jumped to $9.200 per million British thermal units for February 2021 and North Sea Brent crude oil prices hit the $50 a barrel mark for the first time in 10 months.
