There is a common perception that the proposed LNG export projects in the United States will be primarily geared towards meeting Asia’s rising demand for gas. This expectation has been fuelled by strong demand growth in Asia and the continued decline of European demand. A sharp rise in Asian LNG prices after the March 2011 Fukushima disaster and winter peak LNG prices of $20/MMBtu in Northeast Asia also made the region seem the natural destination for Henry Hub-priced cargoes.
However, the price of oil and LNG has halved over the past year, changing the landscape completely and potentially redrawing the map of LNG trade flows.
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