LNG spot prices in Asia reach the $14/MMBtu mark despite demand being covered

摘要

LNG spot prices in Asia have reached $14/MMBtu despite reports that much of the summer demand already being covered. Seasonal swings have a great impact on Asian LNG demand with South Korean LNG demand dropping by 50% in the summer, down from around 6 Bcm/month to 3 Bcm/month. Prices for spot cargoes in South Korea are typically lower in summer, ranging between 9% and 12% of crude oil prices ($/bbl) in $/MMBtu terms.