40 days ago • Posted by Martin Boujol
Asian liquefied natural gas prices are through the roof
LNG prices went up in January due to low stocks, a cold winter, production outages and shipping delays. This created a real arbitrage opportunity for sellers, as prices in Europe and the US stayed at much lower levels. While several sellers rushed to to meet the Asian demand, many struggled to find the volumes for a quick delivery. Only major companies such as Shell and Total managed to re-route Nigerian and Qatari gas tankers previously destined to Europe. US gas futures for February trade at around $2.60 per million British thermal unit (mmBtu). The price is at around $10 in Europe, while Asia has prices just under $30.