Asian LNG Set to Rise as Premium at Two-Year Low: Energy Markets
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Liquefied natural gas prices in Asia are poised to reverse an eight-week drop that brought them to a two-year low relative to cargoes for Europe as Japan faces delays in starting nuclear reactors.
LNG for northeast Asia has fallen 22 percent from a record in February, cutting its premium to shipments for southwest Europe to as little as $1.40 a million British thermal units, data from World Gas Intelligence show. Asian prices may soar about $5 to more than $20 per million Btu by September, according to Sabine Schels, an analyst at Bank of America Corp. in London.