Price spreads between the Henry Hub and benchmark gas markets in Asia and Europe hit three-year highs in December and could continue to widen in the coming weeks, according to Platts.
The Platts Japan-Korea-Marker was assessed at $8.11/MMBtu on Monday and the UK’s NBP climbed to $8.83/MMBtu in mid-December.
The spread offers the best margin so far for LNG exporters in the United States, with arbitrage profit to Asia and Europe of $4.25/MMBtu and $3.65/MMBtu respectively.
The sole US export facility at Sabine Pass exported 12...
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