"The Asian spot price rose to $US7.65 per million British thermal units on Feb. 27, while the British front-month gas contract slumped to $7.57 per mmBtu on Monday amid an influx of planned LNG arrivals," Reuters reported.

"In early February, European prices topped Asia as the world's premium, establishing the biggest and most consistent premium in at least five years."

However, there is some doubt over whether the Asian premium will be maintained following a slump in demand.

"We expect northeast Asian spot LNG prices to take a breather following the strong rebound last week as the (British gas) front-month contract no longer posts a premium to this market," Thomson Reuters Point Carbon LNG analyst Bjorn Inge Vik said.

Last week sources told the newswire that the Woodside-operated North West Shelf LNG operation sold an LNG cargo to BG Group and oil trader Trafigura as part of supply run to Europe.

If correct this would have been the first Australian LNG sold into Europe since 2009.