European and Asian spot gas prices have halved across the last six months. European hub prices are currently testing the 5.0 $/mmbtu level, down from almost 10 $/mmbtu in late September 2018. The key JKM Asian price marker has converged towards TTF price support and is currently around 5.5 $/mmbtu. This plunge in prices across the current winter, has the LNG market firmly focused on the near-term supply & demand balance. Debate is raging as to whether the current wave of new LNG supply (2016-21) is starting to outstrip demand growth. In today’s article however, we are going to take a step back, look beyond the near ... (full story)