LNG

Prices spiked for North Asian spot cargoes in the post-winter windows to $28 per million British thermal units, underpinned by increasing contract cargo prices linked to oil and with European benchmarks staying at seasonal record levels and fuelling global concerns over gas shortages.

Liquefied natural gas cargo liftings dropped and February LNG spot prices for delivery to the North Asian nations China, Japan and South Korea went through the roof, accompanied by record European wholesale natural gas futures prices for January soaring over 40 percent in a week.