Shakil Begg

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Shakil Begg is an Oil Market Strategist with more than 10 years of experience analysing energy markets and formerly headed the Oil Research teams globally at Thomson Reuters.

Shakil Begg

Jan 24 2021

LNG volatility exposes fragility of global energy systems

Illuminem Voices

Energy · Petrochemicals

A bitter cold spell in North Asia coupled with endemic supply shortages in the region saw Liquefied Natural Gas (LNG) prices almost tripling in early January versus December levels. According to the Platts JKM benchmark, spot LNG in Asia was assessed at $32.494/mmBtu on 12 Jan, an all-time record high. Prices have retraced since, with the JKM March contract marked at $8.875/mmBtu on 22 Jan.