According to the latest Reuters report, Asian LNG spot prices have continued to fall and have now reached a 19 month low.
LNG spot prices for the region with delivery dates in April are currently estimated at US$6.00 per million Btu. This price is 20 cents lower than previous weeks and currently the lowest level recorded since August 2017 when prices dropped as low as US$5.90 per million Btu.
Experts are pointing to continued slow demand from China as a significant factor influencing these falling prices. It has also been reported that additional export capacity has recently come back online, adding more supply to the already stagnant market. One example being Chevron’s Gorgon LNG export facility’s train 3, which has recently been reactivated after an unplanned outage.