Asian spot LNG prices reached a seven month low in January, dropping below $10/MMBtu, bringing cost-sensitive buyers like Bangladesh, India, Pakistan and Thailand back to the spot market. High gas storage levels in Europe have pushed prices there lower and prompted liquefied natural gas sellers to turn their attention to Asia. Asia-Pacific “demand will continue…
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South Asia Buyers Again Sidelined by High LNG Spot Prices
High liquefied natural gas (LNG) spot prices have again pushed India, Pakistan, and Bangladesh out of the market. As Russia’s war in Ukraine continues, and the Kremlin has limited exports, European countries have rushed to replace Russian pipeline gas with LNG imports, creating a competitive and expensive global spot market that’s made some small and…
July 7, 2022
New Fortress Cancels Contracted LNG Cargoes in Favor of Cheaper Spot Volumes
New Fortress Energy LLC (NFE) has canceled liquefied natural gas (LNG) cargoes it contracted to receive for the remainder of the year in exchange for a payment of $105 million to supplier Centrica LNG Co. Ltd. The move comes as LNG prices have fallen precipitously, or by 85% over the last year and a half,…
July 8, 2020
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