GLOBAL LNG-Asian LNG prices sink again as coronavirus disrupts demand [Reuters]
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Source: Reuters
GLOBAL LNG-Asian LNG prices sink again as coronavirus disrupts demand * Cargo deferrals prompt sell tenders * Some deals done close to $2/mmBtu * Some buyers seeks cargoes amid low prices By Ekaterina Kravtsova LONDON, April 17 (Reuters) - Asian spot prices for liquefied natural gas (LNG) sank this week as the coronavirus pandemic further dampened demand, prompting buyers to push back cargo deliveries. The average LNG price for June delivery into northeast Asia LNG-AS was estimated at around $2.30 per million British thermal units (mmBtu) on Friday, $0.20 per mmBtu lower than the estimate last week. The current price is almost half that for June a year ago, Reuters data showed. LNG and gas stocks had already been high all over the world, a trader said. “Coronavirus has made the bad much worse. The market is down due to low offtake by usual buyers,” he added. Several buyers around the world are trying to defer cargo deliveries, industry sources said, which has led to several floating c
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