Overall, U.S. LNG export activity remained robust with cargo values almost four times higher than at the same time a year ago, despite recent sharp declines in prices in destination markets, reports S&P Global.
Shipping rates to Europe and Asia have fallen dramatically over the last month, keeping netbacks to the Gulf Coast strong. Cheap US feedgas was also beneficial.
Platts assessed the Gulf Coast Marker for February at $26/MMBtu on Dec. 30, down $3.85 day on day and nearly $29 below the all-time high set just nine days earlier Dec. 21. While the current value is the lowest since Nov. 22, it is up sharply from $7.195/MMBtu the same day a year ago. Read the entire story.