Asian spot LNG prices drop

For illustration purposes only; Pyeongtaek LNG terminal in South Korea (Image courtesy of Kogas)

Asian spot prices for liquefied natural gas (LNG) reportedly declined 10 percent this week to a more than three-month low due to a slide in oil prices and forecasts for a warmer than average winter.

Spot prices for January delivery in North Asia LNG-AS were estimated at $10 per million British thermal units (mmBtu), 90 cents lower than last week, according to a Reuters report on Friday citing traders.

Temperatures in major cities Tokyo, Beijing and Shanghai in the world’s top two LNG buyers, Japan and China, are expected to be warmer than usual next week.

Demand from end-users in North Asia remained muted while a big drop in Brent oil prices was causing jitters in the LNG market, the report said.

Trading remained thin in the region with several LNG tankers still floating around Asia.

But the situation may soon stabilise as end-users have stopped reselling cargoes, the report said.

 

Share this article

Follow LNG World News

Posted on November 23, 2018

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >