Asian Spot Prices Tumble to 19-Month Low

摘要

Northeast Asian spot LNG prices slid by 250 to a 19-month low of $5.95 per million Btu,according to World Gas Intelligence assessments for deliveries four to eight weeks ahead.Spot prices in Southwest Europe held at last week's level of $5.60/MMBtu.The UK National Balancing Point day-ahead price was assessed 60 higher at $5.77/MMBtu,while the April futures contract held steady at $5.70/MMBtu.Netbacks for Mideast sellers in Asia were roughly 650 higher than in Southwest Europe,while UK/Belgian netbacks were almost 600/MMBtu lower than in Asia.There is ample LNG supply in Asia.Output has been ramping up from Australia's Ichthys and Corpus Christi in the US,while production problems at the Chevron-operated Gorgon and Wheatstone plants in Australia and Petronas’Bintulu LNG have mostly been resolved,with limited apparent market and price impact.