Reuters is reporting that Asian spot LNG prices are currently at an eight month low as mild winter weather persists.
Spot prices for February delivery have reportedly dropped to as low as US$8.50 per million Btu. Furthermore, March delivery prices are estimated to be even lower at US$8.30 per million Btu.
Average to above average temperatures are being highlighted as the primary cause of these prices declines. High inventory levels in China are also a contributing factor, as significant stockpiling took place ahead of time in anticipation of demand spikes which are yet to materialise.