Further rises are expected in oil-indexed LNG contract prices during the year – which will push up average prices in leading markets.
Oil prices are expected to see further gains this year. GGA forecasts Brent crude oil to be around $55/bbl in 2017, up from $45/bbl in 2016. Oil-indexed LNG contract prices will rise following the usual three-to-six month lag. The increase in contract prices – which still dominate LNG supply in Northeast Asia – will cause average prices to rise through the year.
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