Reuters is reporting that declining Chinese LNG demand, due to the Coronavirus epidemic, has led to Asian spot prices falling to new lows.
The average LNG spot price for a cargo delivery in March has been reported as approximately US$2.70 per million Btu (25 cents less than the previous week). April delivery prices are not estimated to be much higher at this point, only in the range of US$2.80 per million Btu.
According to Reuters trading sources, China’s transport, commercial and industrial sectors have all been affected by the fast-spreading coronavirus outbreak.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17022020/asian-lng-prices-hit-new-lows-amid-coronavirus-epidemic/