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Asian prices for gas edged upMay 27, 2019 11:10
Asian spot prices for liquefied natural gas (LNG) edged up this week amid stronger bids from market players with short positions and expectations of a rise in northern hemisphere summer demand in Asia.
The price for delivery of LNG to northeast Asia in June is estimated at $5.60 per million British thermal units (mmBtu), a 30 cent rise from the previous week.
Gas traders expect European June contracts to be supported by maintenance work on Norwegian gas facilities and fields. Some 50 million cubic meters a day are expected to be out of action in Norway next week and that may double the following week.
“Asian LNG prices are still very much keeping up with what’s happening in Europe,” a market source said.
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