Asian spot prices for liquefied natural gas (LNG) slid to an eight-month low this week amid milder winter weather, which has curbed prompt demand growth in the region.
Spot prices for February delivery to Asia LNG-AS this week dropped to $8.50 per million British thermal units (mmBtu), lowest since mid-May, industry sources said.
Prices for cargoes to be delivered in March were estimated at about $8.30 per mmBtu, they added. Refinitiv Eikon weather data show average to above-average temperatures in Tokyo, Beijing and Shanghai.
Inventory levels in China, the world’s second-largest importer of LNG, are quite high, traders familiar with the Chinese market said. Read More