Spot liquefied natural gas (LNG) price has touched USD 9 per MMBtu and there are a number of factors involved. In February, spot liquefied natural gas (LNG) prices touched record high levels of USD 21 per MMBtu. It then retraced to USD 6 per MMBtu and has now risen from those levels again.
The rebound is driven by strong demand from China, Japan and Korea. The European gas inventories are at a 3-year low. There are also reports of outages at LNG export plants in Russia and Australia.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.