Asian spot prices for liquefied natural gas (LNG) hit their highest in more than three years this week, with traders in Asia and Europe flagging temperatures in northern Asia are set to dip further as production outages curb supply.
The cold wave in northern Asia – by far the world’s biggest LNG-consuming region – has also opened up arbitrage opportunities for traders, attracting several LNG tankers from the United States, shipping data from Reuters showed.
Spot prices climbed to $11.70 per million British thermal units (mmBtu), according to LNG traders in Asia and Europe. Several February cargoes were sold this week in the $11.50 to $11.80 per mmBtu range, traders said, including to Japan and China. Read More…
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