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Global LNG: Asia spot LNG at fresh three-month high on supply concerns
Asian spot liquefied natural gas (LNG) prices rose this week to a new three-month high due to supply concerns amid tensions in the Middle East and a drop in feedgas deliveries to two LNG terminals in the United States. The average LNG price for June delivery into north-east Asia rose to $10.50 per million British thermal units (mmBtu), its highest since Jan. 12, industry sources estimated. Prices hit a 15-week high earlier this week, slightly exceeding $11.00/mmBtu, tracking gains in European gas markets, but have softened since then. “Spot gas prices have been strong over the last week due to the ongoing conflict ... (full story)