Asian LNG prices held steady at $9.60/mmBtu in February despite weak demand and record supply.

Asian LNG spot prices held steady at $9.60/mmBtu for February delivery to Northeast Asia, reflecting weak demand and record-high supply despite U.S. facility outages. A 34% price drop in 2025 fueled bearish sentiment, with milder weather and holiday lull reducing activity. Europe absorbed excess U.S. LNG due to closed arbitrage routes, keeping prices discounted to the TTF hub. Storage levels remain low, driving continued imports and competition for regasification capacity. Freight rates declined, with Atlantic and Pacific rates at $71,750 and $55,000/day, respectively.