iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

LNG prices rise in Asia, on fear of shortage in the coming winter

17 Aug 2022 , 02:44 PM

Asian gas prices reached their highest level in five months as a result of a worldwide rush to obtain liquefied natural gas cargoes for the upcoming winter. Tuesday saw a surge in the benchmark spot LNG price for Asia, approaching $60 per million BTUs, the highest level since early March when Russia's invasion of Ukraine upended the energy markets.
The decision by Russia to reduce gas imports to Europe is driving up the cost of heating fuel and electricity globally. In order to acquire LNG spot cargoes for delivery during the peak winter consumption season, utilities in Asia and Europe are stepping up their efforts, which is causing scarcity and driving up costs.

According to traders with insider information, some Japanese utilities are now shopping for additional LNG supplies that will start arriving in December. The largest fuel consumer in the world, Korea Gas Corp., is also looking to acquire additional winter supplies, according to dealers.
The amount of accessible LNG is being limited in the meanwhile by supply delays from Australia to the US. Traders said that during S&P Global's market closure procedure on Tuesday, a number of businesses, including Uniper SE and Marubeni Corp., were submitting bids for LNG shipments to Asia.

According to S&P Global, the Japan-Korea Marker increased to $57.728 per million British thermal units on Tuesday, more than double its previous high. In the sweltering summer heat on Tuesday, European gas prices just avoided reaching a record high.

Related Tags

  • Asia
  • economy
  • fuel
  • Global
  • India
  • markets
  • news
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Awfis IPO oversubscribed 4.19x on day two
23 May 2024|09:51 PM
Indian markets end the day on high
23 May 2024|03:59 PM
Markets surge

Markets surge

Whatsapp
Facebook
Twitter
LinkedIn
23 May 2024|03:45 PM
MG Motor India to supply 3000 EVs to Vertelo
23 May 2024|03:46 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.