Spot LNG prices in East Asia have fallen to just $4/mn BTU, the lowest in over three years. Look at recent import statistics and it’s easy to see why. Of the world’s top five importers, only China took more in the first six months of 2019 versus a year earlier.
Key Asian importers of LNG, China in particular, were left short of cargoes in the 2017-18 winter (MEES, 5 January 2018). Fearing a repeat, they took in a bumper 58.8mn tons in 4Q 2018, up 11% year-on-year, boosting average prices to over $11/mn BTU. (CONTINUED - 1138 WORDS)