The British Trader, operated by BP. It will deliver a cargo to Manzanillo, Mexico. (BP)
LNG prices fell for the first time in almost three months last week as the rate of spot deliveries to the Far East slowed.
Prices in Asia’s top-priced markets – Japan and South Korea – fell by almost $0.50/MMBtu to around $18.75/MMBtu, traders said, as the frantic spot bidding finally slowed down.
While prices are not expected to fall through the rest of winter, it could prove to be a useful reprieve for buyers already feeling the pinch of historically high prices for the time of year.
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