Asian spot LNG prices hit 2-yr low

Asian spot liquefied natural gas (LNG) prices fell for the sixth straight week to Thursday to their lowest level in more than two years, while European LNG prices also declined on weak demand and high inventories, reports Reuters.

The average LNG price for July delivery into northeast Asia was down 5.3 per cent from the previous week at $9 per million British thermal units (mmBtu), according to industry estimates, the lowest since April 2021. Asia LNG prices have not risen week-over-week in the 22 weeks since mid-December.