Forward spreads point to further upside for early startup of new US LNG capacity

As the market dislocation from the coronavirus pandemic was raging, the S&P Global Platts JKM, the benchmark price for spot LNG delivered to Northeast Asia, settled April 28, 2020, at $1.825/MMBtu, its lowest on record. LNG buyers started cancelling US cargoes — more than 175 before the wave abated. Inside the biggest US LNG exporter, …

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