PTT’s liquefied natural gas terminal at Map Ta Phut Industrial estate in Rayong province. (Photo: Apichart Jinakul)
LONDON: Asian liquefied natural gas (LNG) spot prices continued its upward trend this week as fears of further market tightening following a major outage at a Freeport plant and reduced Russian gas flows to Europe pushed buyers to cover short-term needs.
The average LNG price for August delivery into north-east Asia was estimated at US$37 per million British thermal units (mmBtu), up $0.5 or 1.4% from the previous week, industry sources said.
“The market is back in a bullish mood, with prices up 60% in a couple of weeks, and we expect this to continue,” said Alex Froley, LNG analyst at data intelligence firm…
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