LNG interest from Asia's emerging gas markets rises as prices ease

📆 2/1/2023 1:20 PM
📰 Reuters

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Energy companies in Asian emerging markets are returning to the market for liquefied natural gas (LNG) cargoes as prices have fallen to their lowest in more than a year.

Buyers in Thailand, India and Bangladesh have been on the sidelines for months as prices soared following Russia's invasion of Ukraine, while European buyers paid top dollar for supplies to make up for the shortfall in Russian supplies.Asian spot LNG prices last week were $19.

50 per million British thermal units , the first time they have fallen below $20 since September 2021, as inventories remain high with peak winter demand due to end soon. Prices are down more than 70% from August's record of $70.50/mmBtu and have dropped by a third so far this year.

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