Prices in Northeast Asia have plunged 800 to $18.20 per million Btu on the back of lower demand and milder winter weather, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. In Southwest Europe, prices have slipped for the first time this year, ending 500 down at $14/MMBtu amid little market activity. On the other hand, the UK National Balancing Point (NBP) day-ahead price as assessed by WGI jumped $1.34 to $11.70/MMBtu because of a renewed cold blast, while March NBP futures rose 120 to $10.32/MMBtu. Netbacks for Mideast sellers were almost $4 higher on Asian than on Southwest European deliveries, while UK and Belgian netbacks for Mideast sellers lagged Asia by over $7.
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