Asian Spot LNG prices rise, as the market tightens
The Asian Spot LNG prices surged as intense production backed the market, undergoing fundamental change owing to new sellers and buyers increasing in the market. However, the Asian Spot LNG prices stood at considerably lower levels in the past week.
The Spot price for May delivery of LNG in Asia also hiked by 10 cents to USD 5.80 per million British thermal units (mmBtu) as an outcome of strong production supporting the market.
While according to reports published in a leading English daily, the global LNG supplies have dropped below the demand with a low margin as an immediate effect of the production units going under maintenance.
Meanwhile, Qatar is likely to intensify the competition in this sector by lifting a 12-year old self imposed ban on development of the world’s biggest natural gas field.