LNG spot prices in Northeast Asia surged 50¢ to $10.35 million Btu, according to World Gas Intelligence assessments for deliveries four to eight weeks ahead. Prices in Southwest Europe were assessed 40¢ higher at $8.10/MMBtu. The UK National Balancing Point day-ahead price was assessed 11¢ lower at $7.63/MMBtu, while the September futures contract inched down 1¢ to $7.71/ MMBtu. Netbacks for Mideast sellers in Asia were around $2/MMBtu higher than in Southwest Europe, while UK/Belgian netbacks lagged Asia by around S2.25/MMBtu.
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