AsiaLNG Terminals

Report: Asian spot LNG prices hit record highs

By LNG Prime Staff
Report Asian spot LNG prices hit record highs
Sinopec's LNG import terminal in Tianjin (Image: Sinopec)

Asian spot LNG prices have reportedly hit six-year highs on the back of strong winter demand in China and Japan.

Reuters reported on Thursday, citing unidentified sources, that the average LNG price for February delivery into Northeast Asia reached about $14.60 per million British thermal units.

This marks a $2.10 climb or a 17 percent rise compared to the week before, according to the news agency.

Furthermore, the agency claims that Asia would import nearly 27 million tonnes of LNG in December. This amount would take over the previous monthly high set in December last year at about 23.6 million tonnes.

China’s LNG imports in December would hit over 9 million tonnes, a jump of about 40% from November with the country overtaking Japan as the world’s top importer for a second straight month, the report said.

Additonally, Japan would also take record monthly volumes in December for a total of about 8.1 million tonnes, the agency said citing ship tracking data.

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