Asian LNG Prices Slide as European Imports Reach Record High

Liquefied natural gas (LNG) spot prices in Asia have declined to $10.60 per million British thermal units (mmBtu), down from a high of $11.60 reached in January.

The decrease is attributed to robust growth in supply, particularly from the United States, and muted demand for spot cargoes from China, the world's largest LNG buyer.

China's imports dropped to 3.38 million tons in February, the lowest monthly total since April 2018, with most imports coming under long-term contracts due to mild winter conditions and high spot prices eroding competitiveness against pipeline gas.

In contrast, Europe has increased its LNG imports to record levels of 14.20 million tons in February, with the United States supplying the bulk of these shipments at 8.05 million tons, or about 57% of total imports.