Asian spot liquefied natural gas (LNG) was unchanged this week, keeping at a six-week high over $9 per million British thermal units (mmBtu) for a third consecutive week, as demand from buyers continued shoring up prices.
There was a significant decline on Tuesday in the amount of U.S. natural gas being liquefied for export with a drop in demand from Cheniere Energy s Corpus Christi plant in Texas and its Sabine Pass operation in Louisiana, according to data from financial firm LSEG.
The European Union will have plenty of gas in stock next winter and the remaining buyers of Russian pipeline gas in central Europe are working on alternative imports in case transit via Ukraine stops from January, analysts and companies said.
The economic picture in key markets will impact gas demand, geopolitical disruptions to LNG trade, the ramifications of Biden’s pause on LNG export approvals and the long-term outlook for gas in Europe and Asia.