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North Asia LNG Prices Fall amid Softer Winter Demand

LNG

Spot LNG prices in North Asia fell to the mid-to-low $9s/Mmbtu amid subdued winter demand, according to ANZ bank.

  • The falling prices has pulled some of the more price-sensitive buyers back to the spot market to capitalise on the lower prices.
  • Bloomberg noted that the demand had emanated from China and South Korea.
  • However, traded volumes remain low, according to ANZ bank.
  • Overall demand is expected to remain stable in 2024, despite the milder winter, according to Woodside’s CEO Meg O’Neill.
  • Stabilising the market will likely be growth in the Chinese economy and more demand from India and Bangladesh.
  • The current lower LNG prices will allow countries in South Asia to return to the market.

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