Asian LNG Prices Plunge 30% as Europe Supply Worries Ease

(Nikkei Asia) — Asian spot prices for liquefied natural gas have dropped by 30% in a span of a week, with Chinese and Japanese inventory pressures easing after a similar plunge in Europe.

The weekly LNG spot price for the Asia region stood at $33.80 per million BTU on Thursday last week, down from the record $48.30 logged on Dec. 23.

The easing of LNG supply concerns in Europe is a welcome turn for Asian markets like China and Japan, which have growing appetites for natural gas as a cleaner alternative to coal.