ANL 34.80 Increased By ▲ 0.80 (2.35%)
ASC 14.45 Decreased By ▼ -0.45 (-3.02%)
ASL 23.30 Decreased By ▼ -1.80 (-7.17%)
AVN 90.10 Decreased By ▼ -2.10 (-2.28%)
BOP 8.98 Decreased By ▼ -0.16 (-1.75%)
BYCO 9.45 Decreased By ▼ -0.40 (-4.06%)
DGKC 127.15 Decreased By ▼ -7.55 (-5.61%)
EPCL 47.30 Decreased By ▼ -3.32 (-6.56%)
FCCL 23.89 Decreased By ▼ -0.74 (-3%)
FFBL 25.09 Decreased By ▼ -0.77 (-2.98%)
FFL 14.80 Decreased By ▼ -0.69 (-4.45%)
HASCOL 10.39 Decreased By ▼ -0.17 (-1.61%)
HUBC 83.80 Decreased By ▼ -2.53 (-2.93%)
HUMNL 6.65 Decreased By ▼ -0.37 (-5.27%)
JSCL 25.15 Decreased By ▼ -0.50 (-1.95%)
KAPCO 40.26 Decreased By ▼ -1.29 (-3.1%)
KEL 3.93 Decreased By ▼ -0.09 (-2.24%)
LOTCHEM 14.10 Decreased By ▼ -0.35 (-2.42%)
MLCF 44.00 Decreased By ▼ -2.42 (-5.21%)
PAEL 34.90 Decreased By ▼ -2.35 (-6.31%)
PIBTL 11.25 Decreased By ▼ -0.45 (-3.85%)
POWER 9.78 Decreased By ▼ -0.47 (-4.59%)
PPL 90.00 Decreased By ▼ -0.90 (-0.99%)
PRL 25.72 Decreased By ▼ -1.14 (-4.24%)
PTC 8.60 Decreased By ▼ -0.11 (-1.26%)
SILK 1.29 Decreased By ▼ -0.06 (-4.44%)
SNGP 39.87 Decreased By ▼ -2.84 (-6.65%)
TRG 143.00 Decreased By ▼ -3.10 (-2.12%)
UNITY 30.73 Increased By ▲ 0.53 (1.75%)
WTL 1.37 Decreased By ▼ -0.04 (-2.84%)
BR100 4,836 Decreased By ▼ -128.86 (-2.6%)
BR30 24,973 Decreased By ▼ -780.65 (-3.03%)
KSE100 45,051 Decreased By ▼ -786.3 (-1.72%)
KSE30 18,871 Decreased By ▼ -303.1 (-1.58%)
Markets

Asia spot LNG prices tumble to record low of $2.622/MMbtu-Platts

The previous record was on Feb. 14, when prices fell to $2.713 per MMBtu, said Ciaran Roe, head of LNG pricing at S
30 Mar 2020
  • The previous record was on Feb. 14, when prices fell to $2.713 per MMBtu, said Ciaran Roe, head of LNG pricing at S&P Global Platts, a unit of S&P Global Inc.
  • The company's spot prices are increasingly being used as a benchmark in the industry.

SINGAPORE: Asia spot liqueifed natural gas (LNG) prices tumbled to a record low of $2.622 per million British thermal units (MMbtu) on Monday, a company official from S&P Global Platts told Reuters.

The previous record was on Feb. 14, when prices fell to $2.713 per MMBtu, said Ciaran Roe, head of LNG pricing at S&P Global Platts, a unit of S&P Global Inc

The company's spot prices are increasingly being used as a benchmark in the industry.

"The LNG industry has been buffeted by continual demand disruption this year due to the COVID pandemic," Roe said.

"The latest blow - to India's import demand due to the nation's quarantine, has resulted in sudden and significant availability of cargo at a time when Europe is seeing demand convulsions and North Asia's buyers are facing the rare boon of low prices for their long-term oil-indexed contracts as well as high spot supply," he said.