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.

Most Popular

Vessels

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.
LNG Terminals

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.
LNG Terminals

Wilhelmshaven LNG jetty ready to welcome Excelerate’s FSRU

Dutch marine contractor Van Oord announced on Monday it had completed the new jetty for its client, state-owned LNG...

More News Like This

LNG Terminals

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.
LNG Terminals

Atlantic LNG shipping rates down for third week in a row

Atlantic LNG freight shipping rates dropped to $32,000 per day this week, while European prices increased compared to last week.
LNG Terminals

GIIGNL: 2024 LNG imports increased 1 percent to 406 million tons

Global LNG imports reached 406 million tons in 2024, increasing by 1 percent compared with the previous year, according to the newest annual report by the international group of LNG importers, GIIGNL.
Contracts and Tenders

BP inks LNG SPA with China’s Zhejiang Energy

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with China's Zhejiang Energy.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA