Spot LNG prices are now trading above $8 per million Btu in Northeast Asia, levels last seen in January. But with regional end-users having little appetite for more product, the consensus is that the price bubble may be about to buret. Softening oil prices are closing the gap between spot prices and oil-linked tenn prices, making spot cargoes less attractive. At the same time, new term volumes emerging from Australia's Gladstone LNG and Asia-Pacific LNG (APLNG) in September or October will put Asian spot prices under more pressure further out, depending how quickly production ramps up.
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