Natural gas prices worldwide soar to record highs

[rangerrebew]

Natural gas prices worldwide soar to record highs

08/03/2021 / By Ramon Tomey

Prices of natural gas in different parts of the world rose to their highest levels recently. The price spikes threatened to increase costs for households and businesses. The high prices also raised concerns that the fuel shortage will only worsen as time passes.

The price of liquefied natural gas (LNG) in the U.K. soared to more than 1 British pound (US$1.39) per therm, the highest level since 2005. According to the Financial Times, a therm measured the amount of energy present in natural gas. Meanwhile, prices of LNG in Europe hit 40 euros (US$47) for the first time. A prolonged winter drained LNG storage levels across Europe, increasing prices as a result.

Asia also saw spikes in prices as the region attempted to attract LNG cargoes to meet strong energy demand. Energy consultancy firm ICIS said spot prices of LNG cargoes reached past US$15 per million British thermal units (MMBTU). Prices in Europe and the U.K. amounted to almost US$14 per MMBTU when converted.
 
https://www.climate.news/2021-08-03-natural-gas-prices-worldwide-soar-record-highs.html#

[thackney]

Column: Supply struggles, not just demand, are fuelling LNG's price surge: Russell
https://www.reuters.com/business/energy/supply-struggles-not-just-demand-are-fuelling-lngs-price-surge-russell-2021-07-12/

The rally in spot liquefied natural gas (LNG) prices in recent weeks has been framed as being led by robust demand in Asia and in Europe as the northern hemisphere deals with hotter-than-usual temperatures.

Although this certainly has a strong influence on prices, the narrative has downplayed issues surrounding supply of the super-chilled fuel, with declining volumes being shipped by major producers such as Australia, Qatar, the United States and Russia.

All four of these top exporters shipped less LNG in June than in May, and in some cases the June volumes were multi-month lows, according to data from commodity analysts Kpler.

The weekly spot price of LNG delivered to north Asia ended at $12.55 per million British thermal units (mmBtu), down from the six-month high of $14 the prior week....

[IsailedawayfromFR]

Translation:  So the companies that made long-term investments into LNG made good decisions.

[yodaspock]

This is just marketing bull, there is world wide glut of natural gas, always has been, always will be.

[IsailedawayfromFR]

This is just marketing bull, there is world wide glut of natural gas, always has been, always will be.

Don't know where you got your facts, but if you mean there are plentiful amounts of natural gas in the world, you are correct, but that does not make it marketable.

Prices are dependent upon a marketable supply of natural gas being available.

And that is what LNG does on the worldwide scene.