Asian LNG offers drop below UK gas price, prompt diversions to Europe
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LONDON (Reuters) - Asian spot prices for liquefied natural gas (LNG) have fallen below the UK front-month gas price, reversing a multi-year trend in which Asian prices had a premium over Europe and prompting some traders to redirect cargoes to Europe from Asia.Typical Asian LNG premiums over European gas prices occur especially in winter, when Asian demand jumps. But as temperatures in Asia have been unseasonably warm this winter, Asian gas stocks have remained full, dragging prices in December..