GLOBAL LNG-Asian spot prices rise but lower European demand could boost flows [Reuters]
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Source: Reuters
GLOBAL LNG-Asian spot prices rise but lower European demand could boost flows * European gas demand could fall more than 4% next 2 months-Rystad * Could see more diversions to Asia - traders * More U.S. LNG heading to Asia this week from last week By Jessica Jaganathan SINGAPORE, March 20 (Reuters) - Asian spot liquefied natural gas (LNG) prices rose for a third straight week on slowly recovering demand in China as local transmissions of coronavirus ease but a flood of cargoes from the West could reverse price gains, traders said. The average LNG price for May delivery into northeast Asia LNG-AS was estimated at $3.50 per million British thermal units (mmBtu), up 20 cents from the previous week, traders said. Prices for cargoes delivered in April were estimated around $3.70/mmBtu, up 30 cents from a week ago. European gas demand could fall more than 4% over the next two months on depressed commercial and industrial activity as more countries lock down to tackle the spread of the novel
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