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Lower spot LNG prices tempt China buyers, but Japan buys less: Russell

Natural Gas World - Latest News · last updated

LAUNCESTON, Australia, March 15 (Reuters) — The decline in the spot price of liquefied natural gas (LNG) in Asia to a 21-month low is tempting China to boost its imports of the super-chilled fuel.

China is on track to import 5.39 million tonnes of LNG in March, according to data compiled by commodity analysts Kpler.

This would be up from February’s 4.96 million tonnes and also above the 4.77 million from March last year.

China lost its crown as the world’s biggest LNG importer last year to former champion Japan, as high prices led Chinese utilities to sharply reduce spot purchases and only take cargoes bought under long-term, mainly crude-oil linked contracts.

But the spot price in Asia

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