Asian spot LNG prices drop

Asian spot prices for liquefied natural gas (LNG) reportedly dropped for a second consecutive week due to lower trading activity and a slow down in buying from China.

Spot prices for August delivery in Asia fell to $10.30 per million British thermal units (Btu), down 30 cents from the previous week, according to a Reuters report citing industry sources.

Interest for September LNG cargoes have also started and are at similar levels to August, the report said.

Trading slowed this week as executives globally gathered in Washington D.C. for a gas conference and a slowdown in purchases by Chinese traders also contributed to the lower prices this week, the report notes.