GLOBAL LNG-Asian LNG prices fall below $2 per mmBtu as spot offers flood market [Reuters]
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Source: Reuters
GLOBAL LNG-Asian LNG prices fall below $2 per mmBtu as spot offers flood market * Price falls below $2/mmBtu * Around 20 U.S. cargoes cancelled for June loading * China received first U.S. LNG in 13 months By Ekaterina Kravtsova LONDON, April 24 (Reuters) - Asian spot prices for liquefied natural gas (LNG) tumbled this as week as sellers around the world flooded the market with cargo offers, while demand remained subdued amid coronavirus-related lockdowns. The average LNG price for June delivery into northeast Asia LNG-AS was estimated at around $1.95 per million British thermal units (mmBtu) on Friday, $0.35 per mmBtu lower than the estimate last week. A wave of supply tenders has hit the market as a number of buyers are rescheduling long-term deliveries, leaving suppliers with excess cargoes, an LNG trader said. “There’s some flexibility in long-term contracts. If the long-term buyer nominates (volumes) down, then the surplus cargoes are offered on the spot market,” another industry
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