LNG spot prices in Northeast Asia collapsed a further 700 to $4.95 per million Btu with the market still to find a floor, according to WGI assessments for LNG cargoes for delivery four to eight weeks ahead. In Southwest Europe, spot prices are assessed 500 lower at $4.80/MMBtu. The UK National Balancing Point (NBP) day-ahead price was assessed 470 lower at $4.18/MMBtu, while February futures sank 240 to $4.25/ MMBtu. Netbacks for Mideast sellers were only 170 higher in Asia than in Southwest Europe, while UK-Belgian netbacks for Mideast sellers lagged Asia by 910.
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