Asian LNG prices lower as demand slows and supply rises

“We expect further downside to Asian LNG prices, as storage levels remain elevated, while the supply picture continues to firm,” said Go Katayama, LNG and gas analyst at data analytics firm Kpler.

Although Japan’s summer heat continues, demand for November heating is lagging. Meanwhile, China is leaning more heavily on domestic gas and pipeline imports, reducing reliance on spot LNG and South Korea is well-stocked, exerting further downside pressure.

“Amid these conditions, spot prices may need to test below the $10/mmBtu threshold to revive meaningful buying interest,” Katayama added.