Tuesday, December 10, 2013
Northeast Asia pricing stands poised to make another attempt Tuesday to surpass last winter's $19.40/MMBtu peak. The World Gas Intelligence Northeast Asia spot gas price assessment has stood at $19/MMBtu for the past two weeks (LNGI Dec.4'13). This is the level at which it stood on the week prior to hitting the February 2013 peak.
The impact of a mortar round might provide the final push past the peak.That mortar round landed within the 6.7 million ton per year Yemen LNG export terminal and will likely be felt in spot markets far beyond the Gulf of Aden (see article). Add the startup of Japan's Naoetsu LNG terminal on the demand side and spot gas could be testing $20/MMBtu soon (see article).