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Expect more LNG diversions from Europe to Asia in 2H13: BofAML

Posted on 17 May 2013

LNG prices have fallen on weak demand and high stocks Spot LNG prices in Asia have retreated sharply to $14/MMBtu after reaching a 4-year high of almost $20 in February. Tightness in global LNG markets evaporated as gas demand in North East Asia eased seasonally after the winter and cyclically on rising economic headwinds.
On top of that, supply from top exporters like Nigeria and Norway recovered. Thus gas storage built to healthy levels, with Japanese gas stocks now at a record seasonal high. Japan now prefers to destock and LNG imports contracted compared to last year in the first quarter………………………………………..Full Article: Source


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VRS - who has written 38561 posts on Opalesque Commodities Briefing.


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