The second half of 2016 has seen a remarkable rise in spot LNG prices especially in Asia. Despite the start of eight LNG trains in 2016, supply has at times been insufficient due to unplanned supply outages coupled with strong demand from a warm summer and cold winter. As a result, spot LNG prices in Asia rose from a low of US$4.5/mmbtu to almost US$10/mmbtu by December 2016. In 2016, 34 mmtpa of LNG capacity came online consisting of supply from Australia, US and Malaysia. With first LNG being exported from US, trade patterns have begun changing with US LNG flowing into Latin America, Middle East and Europe. Notably, Australia LNG is continuing to displace supply from the Atlantic and Middle Eastern region. This growth in supply has only started. Between 2017 and 2021, another 100 mmtpa of new supply will be delivered.