LNG Prices Haven’t Hit A Ceiling Just Yet

The spot prices of liquefied natural gas have gone through the roof this year as Europe suddenly became a major buyer in its attempts to reduce reliance on Russian commodities. Since last year, LNG spot prices were up 267 percent, averaging $57 per million British thermal units in the week to August 19, per Reuters data. However, this price does not reflect the supply situation of LNG. Reuters Clyde Russell noted in a recent column that LNG exports to Asia—the biggest market for the superchilled fuel—are seen at 20.59 million tons for…