Asian rout rolls on as prices slide under $8/MMBtu
China’s Tianjin LNG terminal. The country’s imports of the fuel dropped by 17% in December. (CNOOC Tianjin)
East Asian spot prices continue to slide despite an increase in regional demand which saw Japan post record December LNG imports and South Korea break a nine-month bearish streak of year-on-year contractions.
But Japan and South Korea’s bullish December imports were not enough to arrest a slump in Asian prices, with flexible cargoes changing hands for less than $8/MMBtu, market sources told Interfax.