Asian LNG spot market purchases increase due to low prices, potentially breaking China's 2021 import record and boosting India's intake by 10%.

LNG prices at a three-year low are driving increases in Asian spot market purchases, particularly in China and India. This could result in China breaking its 2021 LNG import record and boost India's LNG intake by 10% this year. Asia's LNG purchases on the spot market increased 33% in Q1, totaling 161 cargoes, with the average price per million British thermal units at $9.82, compared to $18.75 in Q1 2023.

March 21, 2024
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