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/