Asian spot prices for liquefied natural gas (LNG) this week fell to their lowest for this time of the year since 2016 as more supply entered the market from Egypt and Australia, with the lower prices attracting Indian demand, trade sources said.
Spot prices for April delivery to Northeast Asia LNG-AS dropped to $5.45 per million British thermal units (mmBtu) this week, down 25 cents from the previous week. That was the lowest for mid-March since 2016.
Prices for cargoes delivered in May are estimated to be around $5.50 per mmBtu, indicating some price recovery could be coming, trade sources said.
The continued drop in prices has been attracting buying interest from India, they added. Read More