Reuters is reporting that Asian LNG spot prices have risen as supply has constricted.
The decline in supply has been caused by a lack of cargoes being available for delivery into Asia in April. US cargoes, in particular, have been unable to make the trip.
According to traders, the average LNG price for April delivery is currently estimated to be approximately US$3.20 per million Btu – a 20 cent increase on last week’s estimates.
Despite this price increase, Reuters sources have said that they expect prices to remain near record lows for a while yet, largely due to the coronavirus outbreak.
This ongoing trend of low spot prices is reportedly drawing a lot of interest from South Korean and Indian LNG buyers.