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Global gas market rebalances through LNG pivot to Asia
Global gas prices have fallen enough to generate additional spot LNG demand in northeast Asia, which could help forestall a surfeit of supply in Europe this summer — depending on how much Asia is able to absorb. Northeast Asian LNG prices have stopped tracking price falls at European gas hubs in recent weeks, after prices across the two regions had chased each other lower for several months (see TTF v ANEA graph). This has opened up the arbitrage between the Atlantic and Pacific basins for Atlantic-basin cargoes for the first time in a year and a half. Firms would now make a greater return by marketing spot LNG ... (full story)