Asian prices fall amid Chinese LNG cargo sale tenders

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Reuters UK

By Nina Chestney LONDON (Reuters) – Asian spot liquefied natural gas (LNG) prices dropped this week as large Chinese sell tenders signalled that supplies are well-stocked amid continued tepid Asian demand. The average LNG price for March delivery into north-east Asia fell to around $23.00 per metric million British thermal units (mmBtu), down $9.60 or nearly 30% from the previous week, industry sources said. China’s Sinopec issued a tender on Wednesday to sell up to 45 cargoes this year. Under the tender, which closes today, Sinopec offered two to five cargoes each month between February and O…

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