Asian LNG spot prices rose this week, tracking higher oil prices and benefitting from production curbs in Australia.
Asian LNG spot prices have fallen to a three-week low, as the low-demand market continues to be fed with new cargoes.
The International Gas Union (IGU) has released its ‘2019 World LNG Report’ – an annual, in-depth analysis of the current state of the global LNG industry over the previous year.
Vitol’s head of LNG trading, Pablo Galante Escobar, has gone on record stating that the short term prospects for LNG business are ‘bleak’.
Asian LNG spot prices have now broken the US$5.00 per million Btu mark, a result of a lack of growth in demand and continued high levels of supply.
Asian LNG spot prices have continued to decline, as inconsistent demand is yet to make a dent in the oversupplied state of the market.