Reuters is reporting that Asian LNG spot prices have now broken the US$5.00 per million Btu mark. A lack of growth in demand and continued high levels of supply have been the primary causes of the recent price slide which is now in its 13th week.
Asian LNG spot prices for May deliveries reportedly dropped 80 cents this week to US$4.65 per million Btu. This marks their lowest level since May 2016 and is also not far off the record low for Asian LNG spot prices which dates back to 2010 (US$4.00 per million Btu according to Refinitiv Eikon data).
Europe usually trades at a premium to spot Asian LNG prices, however this is currently not the case as Asian prices are currently lower than the current price level of the European natural gas hub in Britain and the Netherlands.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22032019/asian-lng-prices-now-below-us500/