Asian spot LNG prices are declining for the first time in a month as seasonal demand appears to be peaking.
The spot market price of liquefied natural gas in Asia is on the decline amid signs that seasonal demand for the fuel is peaking. Last week saw the first weekly decline in Asia n spot LNG prices in a month, Reuters’ Clyde Russell reported, noting however that prices are still over 66% higher than they were at their trough this year in March. The price of LNG for Asia last week stood at some $13.80 per million British thermal units, compared with $14.
In China specifically, LNG demand is on the rise due to an accelerating switch from diesel to the cleaner fuel for trucks, earlier reports have suggested. Reuters’ Russell quoted a Wood Mackenzie report that found LNG truck sales in China had risen from less than 10% of total sales to 30% of sales towards the end of 2023. This month, Asian imports of liquefied natural gas are set to hit a total of 25.
Liquefied Natural Gas Asia Spot Prices Seasonal Demand China Japan South Korea Diesel Trucks
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