According to the latest Reuters report, Asian LNG spot prices have continued to decline, as inconsistent demand is yet to make a dent in the oversupplied state of the market.
LNG spot prices for April deliveries to northeast Asia have been estimated to be around US$6.20 per million Btu. This price represents yet another 10 cent drop from previous levels.
Despite reports of multiple enquiries for shipments of LNG to China post-Lunar New Year holiday, for delivery in late April/May, in general LNG demand across northern Asia has been very weak. Indeed, the current price level is the lowest seen since September 2017, and experts suggest that the decline is yet to stabilise.