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Asian LNG spot prices now at 3-year low

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