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Asian LNG Prices Set to Fall as EU Storage Fills

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Asian LNG prices appeared set to fall but will likely retain a premium to Europe as the region fills its storage, consultancy Afry told Montel.

  • Prices will then start to fall once Europe has sufficiently restocked ahead of winter, they added.
  • Afry estimate that JKM prices could fall to below $9/MMBtu after European storage in filled.
  • Europe has a target to hit 90% full storage by November 1, but analysts expect this level to be reached well in advance.
  • Competition between the Atlantic and APAC basins is likely to be weaker this summer, but could accelerate during winter, Montel said.
  • However, competition is unlikely to be strong enough to push JKM prices above $12/MMBtu, Montel added.
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Asian LNG prices appeared set to fall but will likely retain a premium to Europe as the region fills its storage, consultancy Afry told Montel.

  • Prices will then start to fall once Europe has sufficiently restocked ahead of winter, they added.
  • Afry estimate that JKM prices could fall to below $9/MMBtu after European storage in filled.
  • Europe has a target to hit 90% full storage by November 1, but analysts expect this level to be reached well in advance.
  • Competition between the Atlantic and APAC basins is likely to be weaker this summer, but could accelerate during winter, Montel said.
  • However, competition is unlikely to be strong enough to push JKM prices above $12/MMBtu, Montel added.