Cedigaz News Reports


Asian LNG spot price is down 80% from record high

The Asian liquefied natural gas spot price on Tuesday was $7.10 per million btu, down nearly 80% from a record high in January, according to Sun Xuelian, a senior LNG analyst at Beijing-based energy information provider JLC.

The steep decline is mainly due to the end of what is commonly referred to as winter heating season, said Guo Jian, an analyst at research firm Sublime China Information. China imported 14.04 million tons of LNG in the first two months of the year, up 27% year-on-year, according to the customs data.

With the newly established state-owned China Oil & Gas Pipeline Network Corp., better known as PipeChina, is opening up its natural gas pipeline network to domestic market players, more small LNG buyers are seeking to purchase it on the international market, Sun said. (April 7, 2021)