This week, Asian spot prices for liquefied natural gas (LNG) slipped on the back of the recovering Malaysian output after a brief suspension.
The average LNG price for January delivery into Northeast Asia dropped by 10 cents from the previous week at around USD6.40/mmBtu. Likewise, the price for December cargoes fell by 10-20 cents week-on-week to USD4.70/mmBtu.
The slip was due to the returning output of Malaysia’s Bintulu plant after a brief suspension recently.
The record amount of US exports of LNG put more pressure on prices. According to ship-tracking data from Refinitiv Eikon, in November, the US shipments to China is likely to break a new record.
