Asian LNG spot prices now at eight month high
Published by Will Owen,
Editor
LNG Industry,
According to the latest Reuters report, LNG spot prices for Asia have risen to a new eight-month high, as demand for pre-winter cargoes emerges.
Spot prices for cargo deliveries in December are now estimated to be approximately US$6.80 per million Btu – a 35 cent increase from last week.
Prices for November cargoes also saw a 10 cent rise and are now reported to be approximately US$5.90 per million Btu, according to market participants.
According to Reuters industry sources, pre-winter demand has not been the only factor boosting prices as of late. Indeed, maintenance in Australia and a reported issue at a US LNG facility have made a significant contribution. Sources have also pointed to high freight rates as having contributed to recent cargo prices.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/18102019/asian-lng-spot-prices-now-at-eight-month-high/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.