Asian LNG Prices Weaken Despite Aussie Plant Delays ($/Mn Btu)

• LNG prices for the four key East Asian importers have fallen back after edging up in February on late-winter buying.

• Japan paid $5.90/mn BTU for spot cargoes imported in April, down a third from February’s 23-month high of $8.80/mn BTU. Prices have since dipped further, with Japanese buyers paying just $5.70/mn BTU for cargoes contracted in April a rough approximation for May arrival (see chart).

• That said, the latest overall import data (ie not just spot cargoes) has yet to exhibit a substantial drop-off in price. South Korea, the first East Asian importer to have released full data for April, paid an average of $7.92/mn BTU, more or less flat with January-March. (CONTINUED - 308 WORDS)

DATA INSIDE THIS ARTICLE

chart Asian Lng Prices Weaken Despite Aussie Plant Delays ($/Mn Btu)