Northeast Asian spot LNG prices drop 16% in March

Spot LNG prices for major importers in Northeast Asia fell by an average of 16.6% in March from the previous month Spot LNG prices for major importers in Northeast Asia fell by an average of 16.6% in March from the previous month.
By Tang Tian 5 April 2017 0 25360

Spot LNG prices for major importers in Northeast Asia fell by an average of 16.6% in March from the previous month – the steepest decline since February 2016. China led the declines after cities in the north of the country switched off their district heating systems in mid-March.

CIF price for imported LNG, February

  Japan South Korea China Taiwan
Total volume, mt 2.37 7.79 2.09* 3.60
Highest price, $/MMBtu 10.33 from Belgium 11.50 from US 8.70 from Australia
Lowest price, $/MMBtu 6.35 from Australia 7.40 from Qatar 6.50 from Russia
Average price, $/MMBtu 7.04 7.85 7.95* 8.02
Sources: Korea Customs Service, Japan Ministry of Finance, Sublime...

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