In a report of Reuters it is mentioned that Asian LNG spot prices have fallen to their lowest level in the last 3 years.
This is a direct result of additional supply of LNG entering the market from Egypt and Australia.
Prices have dropped by 25 cents to US$5,45 per million Btu. This is the lowest level since March 2016!
Although this low price, there are signs that price recovery may be on the horizon.
India will benefit a lot from this continued low price. India’s Reliance Industries has issued a tender for 12 cargoes with delivery dates set for April 2019 through March 2020.
Source: LNG industry.com