Asian prices steady on ample supply despite U.S. cargo cancellations – ZAWYA

Asian prices steady on ample supply despite U.S. cargo cancellations – ZAWYA

Asian prices steady on ample supply despite U.S. cargo cancellations | ZAWYA MENA Edition HomeMarketsCommoditiesArticleAsian prices steady on ample supply despite U.S. cargo cancellations The average LNG price for August delivery into northeast Asia LNG-AS was estimated to be about $2.20 per million British thermal units    SINGAPORE - Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply even though traders continued to cancel cargoes loading from the United States due to poor economics.The average LNG price for August delivery into northeast Asia LNG-AS was estimated to be about $2.20 per million British thermal units (mmBtu), slightly lower than the previous week, trade sources said.Buyers of LNG are expected to cancel 40 to 45 cargoes for August-loading from the United States due to a slow recovery in Asian gas demand and record-high European gas stocks, market sources said this week. The average LNG price for August delivery into northeast Asia LNG-AS was estimated to be about $2.20 per million British thermal units (mmBtu), slightly lower than the previous week, trade sources said.SINGAPORE - Asian spot liquefied natural gas (LNG) prices remained steady this week on a continued stream of spot supply