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Asian LNG spot prices slip as cargoes flood market

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LNG Industry,

According to the latest Reuters report, Asian LNG spot prices have slipped in response to a surge in supply, which has flooded the market at a time when regional demand has remained stable.

Asian LNG spot prices for delivery in August are currently reported to be US$4.60 per million Btu, approximately 10 to 30 cents lower than the last reported levels.

Cargoes for delivery in July are currently estimated at approximately US$4.40 per million Btu.

According to sources, an influx of cargoes from large exporters – such as PNG LNG, Ichthys LNG, Nigeria LNG, Angola LNG and ADNOC – were responsible for the surge in supply.

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