LNG

European natural gas and North Asian spot cargo prices declined again towards levels last seen three years ago as supplies and storage levels were ample despite colder weather with high flows of LNG cargoes towards Europe along with steady flows of winter pipeline gas from Norway.

Natural gas wholesale futures prices in Europe broke records for a second day in a market of contrasts as sky-high prices for spot LNG carrier charters have finally crashed for both the East of Suez and West of Suez markets and by up to $70,000 per day.