Reuters is reporting that Asian LNG spot prices have dropped below US$5 per million Btu to a four-month low.
According to sources, the average price for an Asian LNG spot cargo with a delivery date in March is currently estimated at US$4.60 per million Btu (down 15 cents). February delivery prices are now estimated at US$5.25 per million Btu (down five cents).
During this past week, several spot cargoes were reportedly traded and served to help absorb production issues in Malaysia. However, Reuters has noted that the majority of buyers appeared to have remained on the sidelines ahead of the Lunar New Year holidays.