Europe maintains LNG delivery price edge over Asia as liftings fall this week while spot charter rates climb
The benchmark European Union natural gas futures price remained more than $9 per million British thermal units above Asian spot LNG cargo values, even as prices dropped, while cargo liftings declined amid various outages and ship charter rates jumped.
Asian and European LNG values stay at sky-high levels but some steam runs out as prices drop 12 percent
Some of the steam has run out of the global LNG price surge as natural gas benchmarks dropped by 12 percent and more across the board for Europe and North Asia while remaining at sky-high seasonal levels as LNG cargo liftings were stable.
North American shale company Ovintiv sells Eagle Ford assets in Texas to Validus for $880 million
Ovintiv Inc., the shale oil and gas company with assets in key basins in North America, has signed an agreement to sell its Eagle Ford resources in south Texas to Validus Energy for $880 million to reduce debts as exploration and production companies in the LNG-exporting region of the US Gulf Coast have been badly hit by the combined oil price and Covid-19 slump since early 2020.
