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Prabhudas Lilladher Report
Spot liquefied natural gas prices corrected to $25.5/metric million British thermal unit currently from August 2022 highs of $70/mmbtu against all expectations led by-
adequate gas inventory in Europe at 95.4%, due to mild weather
reduced demand from China, due to Covid restrictions and
expectations of negotiated end to war after nearly nine months of hostilities.
Spot LNG prices usually rise in winter months, given higher heating demand from Asian (South Korea, Japan) and European countries. Spot LNG prices started increasing before war to an average of 36/mmbtu for Q3 FY22 (Q1: $9.7) as European countries procured LNG in anticipation of reduced gas supplies from Russia.
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