Asian LNG price slump shows little sign of abating

The Ningbo LNG terminal in China. (CNOOC)

The collapse in Asian spot LNG prices since last summer does not look likely to be reversed any time soon, as global LNG markets will continue to face headwinds for the rest of this year and next from rising supply and slowing Asian demand growth.

Spot LNG prices for Japan, China, South Korea and Taiwan fell to an average of $4.17/MMBtu on Friday, their lowest level since mid-April 2016 and down from a four-year high of $11.6/MMBtu in September 2018, according to data from SCI International....