Spot prices in Asia were unseasonably high the past few months as persistent supply outages and strong demand growth helped prop up the Platts JKM to levels not seen for several years. However, as winter demand is slow to start up while supply comes back, the market is now starting to see an interesting phenomenon take place where spot prices in Asia are increasingly correlated to gas prices in Europe.
Will this trend continue through the winter or will demand re-open the arbitrage between these two markets? Jeffrey Moore, LNG analytics manager in Asia, shares his insights on this latest Snapshot episode.
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