LNG

European liquefied natural gas prices increased on the week to stay above the Japan-Korea Marker price for North Asian spot cargoes as Atlantic and Pacific Basin liftings were steady while the oil market remained robust even amid mixed demand signals from Asia and the West.

A trading chronicle of the last month of LNG shipbroking activities captured the revival of the North Asian markets with the “miraculous upward trajectory” of LNG prices, helped by a variety of factors such as plant outages in all Basins, South Korean coal caps, Chinese coal restrictions, while favourable arbitrage conditions were further helped by hold-ups in the Panama Canal.