According to the latest Reuters report, Asian spot LNG prices fell for a sixth consecutive week as a series of sell tenders launched this week are seen offering supplies into a market with thin demand following a warmer-than-expected winter in North Asia.
Spot prices for LNG for April delivery were pegged at around US$6.40 per million British thermal units, approximately 50 cents below last week's levels.
Falling prices at Britain's gas trading hub, National Balancing Point (NBP), have dashed expectations of an influx of shipments heading to Europe, leaving more for other regions.
Import tenders from India's Gail, Thailand's PTT and Argentina's Enarsa have done little to counter the supplies offered by Russia, Angola and Abu Dhabi this week.
Russia's Sakhalin II LNG project issued two tenders to sell a combined nine shipments loading in 2017/2018 this week. The first tender offers three cargoes for loading on 23, 26 and 29 April, while the second tender is offering cargoes for loading between May and March next year.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/20022017/asian-lng-prices-continue-to-fall/