LNG reaches new pockets of Asian demand, but prices still too high for rebound

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The easing in spot LNG prices has seen volumes reach new Asian markets in recent weeks. In the Philippines, AG&P’s Batangas import facility crossed the finish line first in the close race with First Gen to receive the country’s first cargo, while new terminals in Hong Kong and possibly Vietnam could also soon begin importing LNG. Though these recent developments have rekindled interest in Asia’s new and potential buyers, with prices remaining above the USD 10/MMBtu mark, a rebound in demand across the region could still be some way off, industry sources tell LNG Business Review.

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