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LONDON (ICIS) –The LNG market softened with Asian LNG and European gas prices settling lower over the week. Latest tender awards in Asia saw prices in the low $30s/MMBtu.

Current price levels are at least encouraging tender awards to some extent, in contrast to a month ago when prohibitively high prices were noticeably deterring deals, particularly among price-sensitive Indian buyers.

The softer market came despite uncertainty over the impact from Russia’s decree that gas payments from so-called unfriendly countries should be in roubles.

The imminent restart of Shell’s Prelude floating liquefaction facility could be a...