MEA consumers are attracting Australian LNG shipments – helped by low LNG prices, an oversupplied market and the increasing participation of portfolio players.
Asia remains the primary customer for Australian LNG shipments, but the MEA and Latin America are also offering attractive prices, resulting in some Australian cargoes heading to these destinations. Average spot LNG prices for July delivery were $5.3/MMBtu in the MEA, $5.2/MMBtu in Latin America, $4.6/MMBtu in Europe, and $4.6/MMBtu in Northeast Asia.
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