Asian spot LNG rout continues

APRIL-delivered spot LNG prices fell nearly 60% year-on-year to an average of $US7.28 per million British thermal units for the key markets of Japan and South Korea according to recent Platts data.
Asian spot LNG rout continues Asian spot LNG rout continues Asian spot LNG rout continues Asian spot LNG rout continues Asian spot LNG rout continues

 

Blair Price

The 59.8% year-on-year tumble in the Japan/Korea Marker index, based on the prices Platts recorded between February 16 and March 13, was blamed on weaker demand due to a mild winter season and slowing economic growth.

“The fall followed the record year-over-year plunge of 61.7% seen the previous trading month,” Platts said.

The slide in crude prices this week only worsens the outlook for the oil price-linked Asian spot LNG market.

Goldman Sachs previously had some of the more dire expectations as it forecasted Asian spot LNG prices to sink to $6.25mmBtu in the September quarter, before rising to $7mmBtu next year – prices which make overly spot market-dependent LNG projects unviable.

Most read Archive

loader

Most read Archive