Asian LNG prices decline along with EU gas values as storage edges higher while Chinese deliveries increase
Asian spot liquefied natural gas prices fell and European wholesale values declined by a bigger margin as the early European Union gas storage build continued at a steady pace, while German import volumes dropped off and China’s deliveries increased.
European LNG demand has set off global competition for supplies even amid slowing economic growth
The International Energy Agency said Russia’s continued curtailment of natural gas flows to Europe had pushed international prices to “painful” new highs, disrupted trade flows and led to acute fuel shortages in some emerging and developing economies.
European LNG benchmark declines but is still $39 per MMBtu higher than last summer amid Russia gas threat
Europe’s benchmark natural gas and LNG cargo prices lost some ground on the week but were still over $39 per MMBtu higher than last summer before the Russian gas supply crisis and remained $12 per MMBtu ahead of North Asia spot cargo valuations as liftings from global liquefaction and export plants increased.
UK LNG imports surge 50 percent along with interconnector pipeline deliveries to Belgium and Netherlands
UK LNG imports increased by nearly 50 percent as the country's regasification infrastructure was used to increase natural gas supplies to Europe after the February invasion of Ukraine by Russia and the start of Western sanctions.
