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Asian LNG spot prices rise

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LNG Industry,

According to Reuters, Asian LNG spot prices rose this week, tracking higher oil prices and benefitting from production curbs in Australia.

Industry sources have reported that Asian LNG spot prices for July deliveries are now approximately US$4.30 to US$4.40 per million Btu, up from US$4.25.

August delivery prices are currently in the range of US$4.70 to US$4.90 per million Btu.

Rising Brent crude oil prices are partly responsible for drawing LNG prices up, as recent attacks on two tankers in the Gulf of Oman have raised concerns about shipments travelling through one of the world’s most important shipping routes.

LNG spot prices have also benefitted from Woodside Petroleum extending its planned maintenance at Pluto LNG, after technical difficulties were experienced during its restart operation.

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