Global LNG Market Are Circling The Drain

Credit: Frans Berkelaar

Low natural gas prices from Europe to Asia, ample supply amid more than sufficient storage, and weaker demand growth this year have combined to create a perfect storm in the global liquefied natural gas (LNG) market.

The LNG glut is already seen in Asian spot prices, which have been falling for five weeks in a row—an unusual price movement just ahead of the winter season in the northern hemisphere. Weighed down by a wave of new supply from the United States, Australia, and Russia, LNG prices in Asia are now down by more than 40 percent from this time last year.

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