A substantial decline in LNG prices has led to a surge in buying from Asia where demand remains strong.
A substantial decline in LNG prices has led to an increase in purchases on the spot market from Asian buyers, such as China, India, and Southeast Asian nations. According to analysts cited by Reuters, this could see China break its own LNG import record, set back in 2021, and boost India’s intake of liquefied natural gas by 10% this year. In 2021, China imported 78.8 million tons of LNG.
'We've seen some buy tenders coming in more frequently given lower Asian LNG prices, especially from price-sensitive buyers like India, Vietnam and China,' Kpler LNG analyst Ryhana Rasidi told Reuters. 'For this year, we believe that the increasing spot demand will contribute to raising overall Asian LNG demand.' The price decline came after a milder-than-expected winter in some parts of the northern hemisphere, which left more gas in storage.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Three quads stolen in thefts from three properties, police sayPolice have launched an appeal for information
Read more »
Shannon Sharpe and ‘Ocho’ share three-word reaction to Anthony Edwards’ ‘dunk of the year’Shannon Sharpe and Chad Johnson react to potential ‘dunk of the year’ from NBA star Anthony Edwards
Read more »
Dad Faces Three-Year Wait for Surgery After Losing LegA dad left in agony after losing his leg is facing a three-year wait for surgery. Gareth Bryan, 44, from Stirling, has hit out at NHS waiting lists and said he has been left trapped in his home since suffering a blood clot in August 2021.
Read more »
'Low life' steals cemetery's disabled-access toilet fitted after three-year campaignPolice are said to be investigating after a portable toilet was stolen from a Shropshire cemetery.
Read more »
Dad left in agony after losing leg facing three-year wait for surgeryGareth Bryan from Stirling was hit with a devastating blow that he will face months of waiting for surgery despite already living with two and half years of pain.
Read more »
World's Art Market Falls to Three-Year Low in 2023The world’s art market fell 4% to a three-year low of $65bn in 2023 due to macroeconomic and geopolitical factors, according to a report. The wealthy were also affected by disruptive changes. The highest-priced works experienced the greatest falls, while art priced at over $10mn at auction saw a 40% decline. Private dealers with annual turnover of over $10mn reported a 7% decline in sales. However, dealers with turnover below $500,000 saw an 11% increase in sales.
Read more »