Asian spot LNG prices soften on sufficient stock

LONDON, Sept 24 (Reuters): Asian spot liquefied natural gas (LNG) prices continued to fall this week as Japan and Korea remain well supplied at least until October, while the market awaits signals of a Chinese demand rebound.

The average LNG price for November delivery into north-east Asia was 42 per million British thermal units (mmBtu), down $4, or 8.7%, from the previous week, industry sources estimated.

"We could see further price decline, with the bulk of start of winter being already booked. Weather will be a factor and of course, China, could make an appearance," said Toby Copson, global head of trading and advisory at Trident LNG.

In Europe, a combination of high inventory levels and governments' efforts to curb demand are keeping the Dutch gas benchmark at much lower levels compared to a month ago.

"It is fair to say that Europe has prepared itself as best as possible for the upcoming winter demand," said Hans van Cleef, senior energy economist at ABN Amro.