North Asia spot LNG prices have rallied above $20/mmbtu, an all-time high for this time of year 📈
Asian buyers are ramping up competition with Europe for available LNG cargoes, while several outages hamper global supply
In other words: When Europe gas prices rise, JKM follows
Asian buyers are ramping up competition with Europe for available LNG cargoes, while several outages hamper global supply
In other words: When Europe gas prices rise, JKM follows
To understand what's happening in Asia, you gotta watch Europe
https://twitter.com/SStapczynski/status/1435562012155596800?s=20
It's normal for LNG prices to spike during extreme weather events in the summer and winter (for example, check out Jan. 2021)
But it is odd for prices to be SO high in September, when utilities aren't yet scrambling for shipments of the super-chilled fuel
But it is odd for prices to be SO high in September, when utilities aren't yet scrambling for shipments of the super-chilled fuel
🇺🇸 US natural gas prices have surged to the highest level in 7 years due in part to strong overseas demand for American LNG
US LNG exports are near a record high
Other factors: hot weather outlook, some offshore production offline after Hurricane Ida, seasonally low inventories
US LNG exports are near a record high
Other factors: hot weather outlook, some offshore production offline after Hurricane Ida, seasonally low inventories
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