Asian LNG prices decrease start to show
In January 2015, LNG imports in Japan, South Korea and China grew by 0.8% compared to December 2014. Imports reached 14.7 million tons which is though 3.9% lower than January 2014 levels. January showed the first impacts of decreasing oil prices on LNG prices, as oil-linked contracts usually include a six-month lag. In Japan, the average import price decreased to its lowest point since September 2013 at $15.15/mmbtu in January, while it averaged $16.14/mmbtu in 2014. South Korean price dropped sharply, from $16.07/mmbtu in December (and $16.31/mmbtu on average in 2014) to $14.27/mmbtu in January.