LONDON (ICIS) – LNG pricing highlights this week were largely characterized by big rises in the US Henry Hub price, driven by tight supply and a lack of new production indicators ahead of summer demand.

Asian spot LNG prices rose on expected summer demand, with high-than-usual temperatures in Japan a factor in particular. Asian prices are still at a wide discount to Europe, with the benchmark TTF lifted by a European Commission proposal to ban Russian oil products, coupled with limited wind generation keeping gas demand elevated.

Long-term supply deals particularly stood out, underscoring the changes taking place in the market as Europe continues its shift away from Russian piped gas and the US moves quickly to offer its LNG as an alternative.

Long-Term Supply Deals