Asia Pacific LNG

Asian prices flat as market looks set for longer-term slide

By James Byrne 24 October 2014 11:51 GMT
China’s Tianjin terminal. The country’s LNG imports have fallen for the past two months. (CNOOC Tianjin LNG) China’s Tianjin terminal. The country’s LNG imports have fallen for the past two months. (CNOOC Tianjin LNG)

The Asian spot market is still in the doldrums despite the onset of winter, as weak demand from some of Asia’s largest consumers keeps the price of flexible cargoes down. 

After rallying to more than $15/MMBtu in September, prices have fallen for November deliveries – with costs trending towards the low $14/MMBtu mark – as the region struggles to absorb ample supplies that were boosted after the startup of ExxonMobil’s Papua New Guinea (PNG) LNG plant.