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LNG spot prices in Asia hit new multi-year low

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LNG Industry,

Reuters is reporting that LNG cargoes are now trading in Asia at a multi-year low of less than US$4 per million Btu.

The factors responsible for this price decline continue to be new supply flooding the market and persistently weak demand from North Asia.

According to Reuters industry sources, the last time LNG was traded below the US$4 mark was reportedly three to four years ago.

In stark contrast to the current trend, at this same time last year Asian LNG spot prices were US$10 per million Btu, having reached a four-year high in June 2018.

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