LNG

Prices plunged for North Asian spot LNG cargoes and for the European benchmarks by up to 34 percent on the week as the winter season market entered the second half with still seasonally very high prices amid positive and adverse economic issues still on the horizon.

Worldwide liquefied natural gas export plants increased their overall liftings, apart from in the US where the markets were affected locally for natural gas and globally for oil by freezing weather causing power outages that hit US output, while North Asia spot LNG prices rose on firm demand.