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LNG: Asia’s Spot LNG Prices Remain Near 3-Year Low: Reuters

LNG
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Asia’s spot LNG prices rose slightly on the week but remained close to a three-month low amid ample supply and mild weather forecasts, Reuters said.

  • The average LNG price for May delivery into NE Asia was at $14.60/MMBtu, up from $13.60/MMBtu last week.
  • Davenport partners told Reuters that it is currently a reactionary market, but it is currently entering summer procurement months that may push spot demand up and buoy current prices.
  • Asia demand for contracted LNG, such as from Qatar, is strong with oil-linked contracts at a discount to spot volumes, Kpler said, cited by Reuters.
  • In India, a forecasted heatwave could spur some LNG demand despite it being priced too high for most buyers in the region at present.
  • Asian prices are expected to remain stable next week, supported by steady gas movements, mild weather forecasts, ample supply projections, and rising expectations of restocking needs, Kpler said.
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Asia’s spot LNG prices rose slightly on the week but remained close to a three-month low amid ample supply and mild weather forecasts, Reuters said.

  • The average LNG price for May delivery into NE Asia was at $14.60/MMBtu, up from $13.60/MMBtu last week.
  • Davenport partners told Reuters that it is currently a reactionary market, but it is currently entering summer procurement months that may push spot demand up and buoy current prices.
  • Asia demand for contracted LNG, such as from Qatar, is strong with oil-linked contracts at a discount to spot volumes, Kpler said, cited by Reuters.
  • In India, a forecasted heatwave could spur some LNG demand despite it being priced too high for most buyers in the region at present.
  • Asian prices are expected to remain stable next week, supported by steady gas movements, mild weather forecasts, ample supply projections, and rising expectations of restocking needs, Kpler said.