Asian LNG prices hit parity with British gas benchmark
Published by Joseph Green,
Editor
LNG Industry,
Reuters are reporting that Asian spot prices for LNG delivery in March fell to parity with European gas benchmarks on 3 February, while importers in India, Thailand and Mexico finalised purchases amid healthy supply.
Traders announced that Asian prices for March delivery fell 25 cents to about US$7.50 per mmBtu, matching the UK's National Balancing Point trading hub levels.
Qatar's liquefaction Train 7 - previously idled for maintenance - resumed production on 3 February, raising the possibility of more frequent deliveries to Britain from the second-half of March and April.
Meanwhile, Australia's AP LNG project is expected to idle half a train's output towards the end of February.
Output from the giant Gorgon project was steady however, with plant operator Chevron readying to bring a third production line on-stream early in the second-quarter.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06022017/asian-lng-prices-hit-parity-with-british-gas-benchmark/
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