Spot LNG prices for front-month cargoes started to climb from their previous rock-bottom levels during the four weeks from mid-July to mid-August. Higher prices came as the market’s attention started to move towards the winter, and on the back of some unexpected production outages in Australia. The ICIS EAX price for spot LNG deliveries to […]
Energy Connections
We need to talk about Joe!
So, once the Democrats conclude this week’s first ever virtual convention held by a US political party, we will finally be able stop calling Joe Biden the presumptive presidential candidate. The race is now well and truly set for the Presidential election slated for November 3rd (pending attempts to postpone it) and despite what the […]
Spot LNG weak despite more cuts
Spot LNG prices remain at rock-bottom levels despite major cuts to global production, especially from the US. The ICIS EAX price for spot LNG deliveries to east Asia during August averaged $2.180/MMBtu from mid-June to mid-July, down 53% from the same time last year. The ICIS TTF spot gas benchmark for Europe was even lower, […]
Market volatility is here to stay
Today marks the first day of the second half of 2020, and as I’m sure you will all agree, a lot has changed in six months. If you can all cast your minds back to 1 January 2020, how many thought you would be where we are now? Stories of Coronavirus being detected in China […]
Spot LNG still weak, despite more cuts
Spot LNG prices remained very weak in the period from mid-May to mid-June. Growing numbers of US cargo cancellations being planned across the summer have failed to boost the market more than a couple of percent, as supply continues to overwhelm a demand sector suffering from the impact of recent mild winters and the ongoing […]
Reports of clean energy’s demise are greatly exaggerated
As the Covid-19 pandemic enters its sixth month, we are starting to get more data on the impacts that efforts to contain the disease have had on the global economy. Much has already been stated about the fall in energy demand globally caused by the lockdown of world economies. The fall in oil prices – […]
Spot LNG gains on US shutdowns
Spot LNG prices remain at historically low levels, the result of ongoing structural oversupply in the market after recent years in which new supply project additions outpaced the growth in global demand. The continuing coronavirus pandemic has exacerbated the effect, by further weakening demand, removing the growth that otherwise might have helped tackle part of […]
Spot LNG plunges to record lows
Spot LNG prices have continued to plummet in recent weeks as the demand destruction brought by the coronavirus adds pressure to what was already an oversupplied market. Global production was not greatly impacted in the first quarter of the year, but larger cutbacks are expected in later quarters to re-balance the market. The effects are […]
Oil crash closes gap to spot LNG
Spot LNG held largely stable around $3.00/MMBtu levels from mid-February to mid-March, but a huge crash in the global oil markets narrowed the gap between oil and gas prices substantially. The ICIS East Asia Index for April LNG averaged $3.066/MMBtu across the period, representing the cost of a spot cargo to Japan, China, South Korea […]
Spot LNG falls below $3 after mild winter, virus
Spot LNG prices have dropped to record lows under $3.00/MMBtu after a mild winter combined with the coronavirus outbreak in China to bring strong cuts to demand while global supply projects continue to grow. The ICIS East Asia Index (EAX) for spot deliveries to Japan, China, South Korea and Taiwan averaged $3.611/MMBtu from mid-January to […]
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