Spot prices for liquefied natural gas (LNG) in Asia rose this week, as rising temperatures in the northeast of the region led to some recovery in demand, and the escalation of geopolitical tensions in the Middle East raising concerns about supply disruptions.

The average LNG price for July delivery in North-East Asia was $12.60 per million British thermal units (MMBtu), up from $12.30/MMBtu last week and at its highest levels since early April, industry sources estimated.

For gas and LNG, the real risk would be to disrupt Qatar's LNG exports, for example via the Strait of Hormuz. Given past military threats, that still seems a long way off, at least for now.

Egypt has reached agreements with several energy companies and trading houses to buy 150 to 160 LNG cargoes to meet electricity demand.

In LNG freight, Atlantic rates increased for the first time in nearly six weeks to $33,000/day, while Pacific rates remained stable at $20,750/day, he added.

Natural gas: Asian spot prices are rising

Spot prices for liquefied natural gas (LNG) in Asia rose this week, as rising temperatures in the northeast of the region led to some recovery in demand, and the escalation of geopolitical tensions in the Middle East raising concerns about supply disruptions.

The average LNG price for July delivery in North-East Asia was $12.60 per million British thermal units (MMBtu), up from $12.30/MMBtu last week and at its highest levels since early April, industry sources estimated.

For gas and LNG, the real risk would be to disrupt Qatar's LNG exports, for example via the Strait of Hormuz. Given past military threats, that still seems a long way off, at least for now.

Egypt has reached agreements with several energy companies and trading houses to buy 150 to 160 LNG cargoes to meet electricity demand.

In LNG freight, Atlantic rates increased for the first time in nearly six weeks to $33,000/day, while Pacific rates remained stable at $20,750/day, he added.