6 August
LNG prices in Asia surpassed European market figures for the first time in seven months
According to Spark Commodities, liquefied natural gas (LNG) traders are now finding it more profitable to sell cargoes of the US supercooled fuel in Asia rather than in Europe. This opportunity has opened up for the first time in seven months. Previously, LNG cargoes in the Old World had been priced above costs for the Asian region for many weeks.
The arbitrage window came after a series of production disruptions in some areas of the Eastern Hemisphere reduced LNG supplies in the Pacific Basin, notably in Malaysia and Australia. Meanwhile, the gas price in Europe declined due to storage replenishment and moderate demand.
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