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Global LNG: Asia spot prices fall to 7-month low as stocks remain plentiful
Asian spot liquefied natural gas (LNG) prices slid for an eighth consecutive week to hit their lowest levels in seven months, as healthy storage levels in both Europe and northeast Asia continued to weigh on prices. The average LNG price for February delivery into north-east Asia dropped nearly 10% to $10.10 per million British thermal units (mmBtu) from $11.20 last week, industry sources estimated, its lowest level since June 9. “Despite colder weather arriving and forecast to continue in Europe, the slide in flat price gas markets has continued as stocks remain healthy for this point in heating season,” said ... (full story)