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What’s Driving Recent Gains in Global LNG Prices

What’s Driving Recent Gains in Global LNG Prices

Asian LNG (liquefied natural gas) spot prices have seen strong upward momentum in recent weeks. The contract for July delivery gained $1.80 per MMBtu (million British thermal units) last week to reach $11.60 per MMBtu. This rise is due to strong demand from China, outages at a few export plants, and large tender buying—especially from emerging and developing countries. Pakistan recently announced a tender of six LNG trains for July and August delivery.