Liquefied natural gas (LNG) prices are up around the world, driven by demand in China and across Asia, which is helping push benchmark prices in Europe to decade-plus highs as well, noted a report by Al Attiyah Foundation.
US prices have also risen, partly due to hot weather and an LNG export boom – suggesting a fully integrated international market is finally developing, with all prices moving in line, although the US remains far cheaper (excluding delivery costs). Longer term, fundamentals are increasingly pointing to a sustained period of higher prices, although long term deals are still struggling to follow the upward trend in spot prices.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.