Recent LNG Market Developments

Assessed spot LNG prices in Northeast Asia was halved during the first quarter of 2020, from the middle of USD 5s per million Btu to USD 2.5, the lowest in the history, compared to the halved drop in the same period in 2019 from USD 9 to USD 4.5. The latest decline was largely due to significant increase in the global LNG supply capacity associated with slowing down of demand growth in Asia including China and India, as well as sluggish gas demand in Europe including Italy and Spain. Source: Hiroshi Hashimoto, IEEJ