×
×
Infographic

Asian spot LNG price shoots up by 50% in October

Strong oil prices, coupled with a pick-up in demand and the effect of US sanctions, saw Asia’s average spot LNG price rise sharply last month Strong oil prices, coupled with a pick-up in demand and the effect of US sanctions, saw Asia’s average spot LNG price rise sharply last month.
By Tang Tian 5 November 2019 Asia Pacific / LNG 0 34752
Chart showing average CIF price of spot LNG in August and September in Japan, China, South Korea and Taiwan

The average spot LNG price paid by Japan, China, South Korea and Taiwan rocketed by 50.4% in October compared with September, marking the biggest monthly increase since Interfax started tracking Asian spot prices in January 2013. The surge resulted from three factors: the rise in oil prices following the mid-September attack on Saudi Arabian oil facilities, a general pick-up in demand ahead of...