“The biggest surprise in 2021 so far has been LNG to my mind. And the markets LNG and east coast gas price expectations have not yet priced in upside potential to the extent oil expectations have improved of late in our view,” Mr Kavonic said.“Every US$1/mmbtu higher LNG price should increase domestic gas netbacks ~A$1.20/GJ. And the market’s east coast gas price expectations have not yet priced in upside potential the way oil has in our view.”
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