LONDON- Asian spot liquefied natural gas (LNG) prices declined this week, tracking European gas prices which fell due to stable Russian gas flows and LNG supply.
However, market players remain concerned over the risk of Russian supply disruption amid a tense geopolitical situation following Moscow’s invasion of Ukraine, which remains a bullish factor that could send prices higher.
The average LNG price for April delivery into north-east Asia was estimated at $38.00 per metric million British thermal units (mmBtu), down $2.50, or 6.2 percent from the previous week, industry sources said.
“It’s all still very politically driven with regards to the Eastern situation and THE risk of (Russian gas) cut-off remains. In the meantime, supplies from Russia are healthy, LNG (flow to Europe) is increasing and the outlook on fundamentals is bearish,” a European trader said.
