Prices for liquefied natural gas (LNG) remain weak going into what forecasters are claiming will be a warmer than usual winter season in the Northern Hemisphere. In fact, last week spot prices for the super-cooled fuel in Asian tumbled some 10 percent, hitting three month lows, an uncharacteristic development for this time of year. Reuters, citing traders, said that LNG spot prices for January delivery in North Asia LNG-AS were estimated at $10 per million British thermal units (MMBtu), 90 cents lower than last week. Factors continuing to put downward pressure on prices include warmer temperatures, LNG storage levels in the world’s top three LNG importers (Japan, China and South Korea) remaining high and plunging Brent oil prices which long term LNG contracts are mostly linked to. Though spot purchases are not usually linked to oil prices, they often follow either oil prices upward or downward trajectory. A Singapore-based […]