Asia spot LNG prices hit six-month high

Slowing demand: A resident fishes as the sun sets at the coastal village of Santa Clara near an LNG power plant in Batangas province, Philippines. Asian summer LNG demand is expected to increase year-on-year, but at a softer rate than in the last few months. — AP

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose to a six-month high this week on the back of cooling demand in India, higher forecast temperatures in north-east Asia and suspended production at an Australian gas facility.

The average LNG price for July delivery into north-east Asia was at US$12.60 per million British thermal units (mmBtu), its highest level since Dec 15, industry sources estimated.