Spot LNG prices steady as demand weak

SINGAPORE, Nov 25 (Reuters): Asian spot liquefied natural gas (LNG) prices were little changed this week, slipping slightly from the previous week, as demand was weak and inventories remained high in both Northeast Asia and Europe.
The average LNG price for January delivery into Northeast Asia was at $16.40 per million British thermal units (mmBtu), estimated industry sources, versus $16.70/mmBtu the previous week.
Prices have eased about 8 per cent or $1.50/mmBtu from a near nine-month top reached in mid-October.
"The market still sees the absence of major Northeast Asian buyers. China's re-selling (of) volumes for December may also indicate a well-balanced Chinese market with limited interest for securing additional spot cargoes," said Siamak Adibi, principal consultant at consultancy FGE.