Modest gains expected for winter spot prices

摘要

Northeast Asian spot LNG prices will strengthen this winter as demand reaches its peak for the year. But they are unlikely to hit the record high of $19.40/mn Btu reached during the recent winter, barring any severe drops in temperature or supply disruptions. A perfect storm of factors such as a harsh winter in north Asia, production disruptions at the Yemen, Tangguh, Nigeria and Snohvit liquefaction facilities in November last year and an unexpectedly large tender by Argentina for its full-year requirements fuelled the surge in northeast Asian spot prices last year.