Friday 26 June 2020

 

The significant reduction in natural gas prices at European hubs, as well as East Asian hubs, was reflected in the value of LNG cargo. Added to this was the fact that lower oil production also induced lower natural gas production associated with crude oil production, increasing overall LNG production costs. This led to the start of the cancellation of many summer deliveries, the first effects of which can be seen in the May consumption figures for LNG imports to Europe.

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