Skip to main content
  1. Home
  2. LNG
  3. 26 Nov 19
  4. Asian LNG prices weighed down by oversupplied spot market

Asian LNG prices weighed down by oversupplied spot market

Published by , Editor
LNG Industry,

Reuters has reported that Asian LNG spot prices continue to be negatively impacted by the growing supply glut.

As spot cargoes continue to flood into the market, demand growth has been muted by forecasts of a mild winter. This has caused prices for LNG deliveries to Northeast Asia in January to fall to an estimated US$5.70 per million Btu – a decline of 20 cents from the previous week. Likewise, prices for December deliveries have also fallen by 20 – 40 cents to approximately US$5 to US$5.20 per million Btu.

In addition to weak Asian demand for LNG, Reuters trading sources are citing the fact that European gas storage capacity has nearly been filled as a reason why spot cargoes are struggling to find landing spots.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26112019/asian-lng-prices-weighed-down-by-oversupplied-spot-market/

You might also like

NextDecade announces senior loans for Rio Grande LNG Phase 1

NextDecade Corporation’s subsidiary, Rio Grande LNG, LLC, has entered into a credit agreement for US$356 million of senior loans to finance a portion of the first three LNG trains at NextDecade’s Rio Grande LNG export facility in Texas.

 
 

Embed article link: (copy the HTML code below):

 

LNG Industry is not responsible for the content of external internet sites.