Home Author: Alex Froley

Energy Connections

Spot LNG stronger on winter, outages

Spot LNG prices for front-month cargoes started to climb from their previous rock-bottom levels during the four weeks from mid-July to mid-August. Higher prices came as the market’s attention started to move towards the winter, and on the back of some unexpected production outages in Australia. The ICIS EAX price for spot LNG deliveries to […]

Spot LNG weak despite more cuts

Spot LNG prices remain at rock-bottom levels despite major cuts to global production, especially from the US. The ICIS EAX price for spot LNG deliveries to east Asia during August averaged $2.180/MMBtu from mid-June to mid-July, down 53% from the same time last year. The ICIS TTF spot gas benchmark for Europe was even lower, […]

Spot LNG still weak, despite more cuts

Spot LNG prices remained very weak in the period from mid-May to mid-June. Growing numbers of US cargo cancellations being planned across the summer have failed to boost the market more than a couple of percent, as supply continues to overwhelm a demand sector suffering from the impact of recent mild winters and the ongoing […]

Spot LNG gains on US shutdowns

Spot LNG prices remain at historically low levels, the result of ongoing structural oversupply in the market after recent years in which new supply project additions outpaced the growth in global demand. The continuing coronavirus pandemic has exacerbated the effect, by further weakening demand, removing the growth that otherwise might have helped tackle part of […]

Spot LNG plunges to record lows

Spot LNG prices have continued to plummet in recent weeks as the demand destruction brought by the coronavirus adds pressure to what was already an oversupplied market. Global production was not greatly impacted in the first quarter of the year, but larger cutbacks are expected in later quarters to re-balance the market. The effects are […]

Oil crash closes gap to spot LNG

Spot LNG held largely stable around $3.00/MMBtu levels from mid-February to mid-March, but a huge crash in the global oil markets narrowed the gap between oil and gas prices substantially. The ICIS East Asia Index for April LNG averaged $3.066/MMBtu across the period, representing the cost of a spot cargo to Japan, China, South Korea […]

Spot LNG falls below $3 after mild winter, virus

Spot LNG prices have dropped to record lows under $3.00/MMBtu after a mild winter combined with the coronavirus outbreak in China to bring strong cuts to demand while global supply projects continue to grow. The ICIS East Asia Index (EAX) for spot deliveries to Japan, China, South Korea and Taiwan averaged $3.611/MMBtu from mid-January to […]

US LNG projects advance as spot remains low

Global LNG prices remained soft in the four weeks to mid-January as US export projects continued to progress, adding yet more capacity to an already oversupplied market. The ICIS East Asia Index for February deliveries to Japan, South Korea, China and Taiwan averaged $5.295/MMBtu, falling 4% from the month before, and down 40% compared to […]

Spot LNG prices for January slide as US plants begin

Spot LNG prices over the past four weeks for January 2020 cargoes to Asia averaged $5.515/MMBtu, falling back 11% from average prices for December 2019 cargoes during the previous four weeks. The market remains oversupplied with LNG, with new US projects continuing to enter the market at the end of the year. So far there […]

Asian LNG softens on mild weather, strong supply

Spot LNG prices in east Asia softened over the past four weeks on indications of mild weather for the winter ahead and against a background of strong global supply growth. The ICIS East Asia Index for December deliveries to Japan, South Korea, China and Taiwan was at $6.75/MMBtu on 16 October, rose to as high […]

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