Higher Spot LNG Prices Could Soften Asian Imports This Summer

While Asia’s LNG imports in May are set to exceed prior-year levels, purchases in price-sensitive buyers in South and Southeast Asia could soften going forward as the average spot prices in the continent rallied to a five-month high last week. Overall, LNG imports into the world’s top importing region, Asia, are on track to hit 23.61 million metric tons in May, slightly up from 23.23 million tons in April and noticeably higher than the 20.75 million tons imported in May last year, per data from commodity analysts Kpler cited by Reuters…