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Global LNG: Asia spot LNG prices slip on muted demand, high EU stocks
Asian spot liquefied natural gas (LNG) prices fell this week, as muted demand in Northeast Asia and high gas inventories in Europe continued to weigh on prices. The average LNG price for August delivery into north-east Asia fell by 12.5% from the previous week to $10.80 per million British thermal units (mmBtu), industry sources estimated. The average price for September delivery was forecast at $10.70/mmBtu, the sources added. “North Asian pricing came off rapidly this week, from mid-$12 down to $10, driven by almost no near-term demand for August and September respectively,” said Toby Copson, global head of ... (full story)