Asian Spot LNG Prices Decline Most Since June 2010, WGI Reports

Spot liquefied natural gas prices for Northeast Asia this week fell the most since at least June 2010, World Gas Intelligence reported.

Prices for cargoes delivered in the next four to eight weeks declined $1.20 to $15.80 a million British thermal units, according to WGI’s own assessment of the market made on June 25 and published today. That’s the biggest drop since WGI started the appraisal, it said.

Woodside Petroleum Ltd. (WPL) held tenders for supply from its Pluto and North West Shelf projects in Australia, boosting supply, according to WGI.

To contact the reporter on this story: Rob Verdonck in London at rverdonck@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net