Global markets have been hit hard by the economic downturn as a direct consequence of the Covid-19 pandemic. LNG prices were among the commodities which decreased sharply as consumption evaporated when entire industries and societies went into lockdown. During the past several months, however, prices have rebounded strongly, resembling a rollercoaster. The situation was especially dire for East Asian customers who found it hard to buy affordable cargoes. Therefore, buyers are already preparing for the next winter season. China’s Sinopec, for example, has purchased 35 cargoes to be delivered starting in June until February 2022. Chinese buyers are hardly alone. Importers in Japan and South Korea are likely to follow as the market remains tight. It is uncommon though that winter cargoes are bought on such a scale in April already. The price difference within one year is remarkable and attributable to several factors. During the summer period of […]