Average LNG import prices into Northeast Asia rose month on month in August as stronger oil prices filtered through to LNG, while spot prices are gaining support.
The average price of LNG entering Japan reached $6.6/MMBtu in August, a 3% rise compared with July and the first time the price has risen over $6.5/MMBtu since March. China saw its average price increase by 11% month on month in August, to $6.1/MMBtu. An 8% month on month rise was seen in South Korea, with prices reaching $6.4/MMBtu. Higher oil prices are filtering through to oil-indexed contract prices, and Brent’s recent modest gains will continue to support LNG contract prices over the coming months.
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