Global gas prices to remain pressured by LNG oversupply in 2019-20: BP

摘要

Global gas prices will continue to decrease through 2019 and 2020, as the LNG market remains oversupplied, BP’s CEO Bob Dudley said Tuesday during the company's results presentation. Asian spot prices have fallen in the first half of the year due to slowing demand growth in Northeast Asia, notably in China, he said. The benchmark JKM Asian LNG spot price dropped as low as $2.34/ MMBtu in June 10 from a high of just over $12/MMBtu in September last year, according to S&P Global Platts price assessments.