LNG

European natural gas prices and LNG values hit summer season records of over $19 per million British thermal units as Asian spot cargo prices soared over $21 per MMBtu and US Henry Hub futures moved over the $5 per MMBtu level, signalling global shortages for gas for power in the coming Northern Hemisphere winter.

The liquefied natural gas market continued to display seasonally high prices for shipments to China, Japan and South Korea as cargo liftings stayed above 100, while European benchmark LNG values slipped after previously hitting 2021 highs.