Highlights JKM drop triggers fear of abundant spring LNG deliveries to Europe Asian storage demand expected to cushion as stock fell below 3-year average But summer arbitrage opportunities to Europe already narrowing London — A sudden drop in gas prices at the Asian JKM hub prompted many European traders to question whether LNG cargoes will still be attracted toward Asian markets during the spring and summer periods or rather be diverted to European ports. But while Asia’s need to replenish its storage facilities may cancel out traders’ fears of a LNG summer flooding in Europe, a steep backwardation in Europe’s gas prices seems to suggest that LNG cargoes will be encouraged to stay in the Atlantic. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Many traders are wondering about Asian storage demand, especially now that JKM prices are falling,” an Italian energy trader said. “We […]