52 |
Southern Corridor GRIP 2014–2023
Cove Point
8.01
Belgium
25.55
Spain
26.78
Korea
38.45
India
33.78
Lake Charles
7.74
Japan
38.45
Rio de Janeiro
35.99
Altamira
40.29
China
37.47
Bahia Blanca
38.45
UK
26.19
Spot Price
in €/MWh
(original data in $/MMBtu)
Figure 4.11:
Estimated World LNG spot prices, November 2013 landed prices
Source: Federal Energy Regulatory Commission/USA:
Gas prices have been influenced during the few recent years by two major factors:
\\
The growing energy demand in Asia, supported by the nuclear accident of
11 March 2011 in Fukushima. This has driven up prices in East Asia and has
sustained LNG prices in other parts of the world as well. According to Figure
4.11, spot LNG prices in November 2013 were estimated (in October 2013) to
be in Japan 50% higher than in Belgium and almost five times higher than in
the east coast of the USA.
\\
The considerable increase of shale gas production in the USA as shown in
Figure 4.12. This has pushed gas prices down in the USA.
The price reduction in the USA made natural gas the preferred fuel for power
generation and released quantities of coal to be exported to the rest of the world,
including the EU. The increase of gas production did not yet make the USA an
exporter of LNG however it is expected that this will take place in the future.
