COLUMN-LNG, the champagne of fuels, should enjoy its beer moment: Russell - Reuters:
It’s been an extremely weak start to the new decade for liquefied natural gas (LNG) with spot prices in Asia falling to more than 10-year lows, but it’s not all doom and gloom for an industry that sees itself as part of the solution to climate change.
The average spot price for LNG LNG-AS delivered to north Asia for March dropped to $4 per million British thermal units in the week to Jan. 24, with some cargoes trading at just $3.95.
At below $4 per mmBtu, the spot price is at the weakest level in Asia since summer of 2009, according to data from S&P Global Platts, the price reporting agency that assesses the benchmark Japan-Korea-Marker (JKM) price.
The price is down 41% from its winter peak of $6.80 per mmBtu, hit in the week to Oct. 11, meaning that the super-chilled fuel has effectively missed out on the usual boost to prices from demand in north Asia in the colder months.
It’s been an extremely weak start to the new decade for liquefied natural gas (LNG) with spot prices in Asia falling to more than 10-year lows, but it’s not all doom and gloom for an industry that sees itself as part of the solution to climate change.
The average spot price for LNG LNG-AS delivered to north Asia for March dropped to $4 per million British thermal units in the week to Jan. 24, with some cargoes trading at just $3.95.
At below $4 per mmBtu, the spot price is at the weakest level in Asia since summer of 2009, according to data from S&P Global Platts, the price reporting agency that assesses the benchmark Japan-Korea-Marker (JKM) price.
The price is down 41% from its winter peak of $6.80 per mmBtu, hit in the week to Oct. 11, meaning that the super-chilled fuel has effectively missed out on the usual boost to prices from demand in north Asia in the colder months.
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