ASIAN SPOT LNG PRICES HIT 19-MONTH LOW ON TEPID DEMAND

Due to weak demand, which is predicted to persist until the end of March,

[{"selector":"#anim-b9281924-0f96-47e4-b3fd-8cbb55d4b205 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.38281245377921%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Asian spot LNG prices continued to decline this week and reached their lowest level since July 2021.

[{"selector":"#anim-94cb6527-e06d-4d59-8526-e491f63805cf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.374999905188105%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

According to industry sources, the average LNG price for April deliveries to northeast Asia was $14.50 per million British thermal units (mmBtu),

[{"selector":"#anim-403b7efc-41df-48bf-9f2c-7cb99c895cce [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.601562388359%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

a decrease of $0.50 (or 2.3%) over the previous week. Costs have decreased by more than 48% year to date

[{"selector":"#anim-f58faea2-c0a8-4b17-8845-49574830c8fd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

and by almost 79% from the peak of $70.50/mmBtu in August 2022. "South Asian purchasers have been encouraged by recent prices.

[{"selector":"#anim-9fce789f-7bbd-4735-bfec-8a062022f2b0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Yet, it seems that less than $15 is still insufficient for the Chinese, "Toby Copson, the global head of trading at Trident LNG, stated.

[{"selector":"#anim-81bbaa24-84e5-46d6-8d02-f7692792713b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

"Even though market weakness is still present, it will probably require a protracted period of lows before state-owned companies

[{"selector":"#anim-1b3132e6-23e0-4650-b204-2fea3320b0f5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.16964276108486%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

and tier 2 and 3 (players) decide to return. I don't believe the trigger price for profitable domestic arbitrage has yet been seen "Added he.

[{"selector":"#anim-b17bfdcf-0c74-48de-b182-d6a1e063eb13 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.491071334463854%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

An increase in LNG prices is currently constrained, according to Leo Kabouche, LNG market analyst at research firm Energy Aspects,

[{"selector":"#anim-243e1fb6-d9fd-4132-8e29-860a9e045d9d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.156249885656855%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

as a result of the absence of North Asian buyers from the spot market, high gas inventories in Europe,

[{"selector":"#anim-ec7099f4-9506-4ece-9036-332ccbaeb0ef [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.16964276108486%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Want more stories like this click bellow button

[{"selector":"#anim-6c998e5c-9b23-40a5-891a-7197689b0465 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.491071334463854%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Learn more