U.S. LNG Club Could Get More Exclusive
U.S. LNG Club Could Get More Exclusive
It’s a real gas being an incumbent in this business.
The East Asian LNG spot price benchmark, the Japan/Korea Marker, spiked to a record $32.50 per million British thermal units in mid-January—six times what it was a year earlier—buoyed by cold weather and a tighter shipping market. That helped boost Cheniere’s margins. Though more than 80% of Cheniere’s export capacity is sold through long-term contracts, the company is able to capitalize on shorter-term spikes through its uncontracted capacity.
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