LNG Review – Recent issues and market events

The assessed spot LNG prices for near-month delivery to Northeast Asia surged in December 2020, due to issues at multiple LNG production facilities, congestion of Panama Canal transit, rapid increases in short-term charter rates of LNG carriers, surge in seasonal demand caused by colder weather in Northeast Asia, and LNG users’ inability of procurement of spot volumes fast enough to cope with the rapid demand increases. Author: Hiroshi Hashimoto