An LNG tanker passing boats along the coast of Singapore
Emerging markets to bolster Asian LNG demand
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust
Asian spot LNG prices are trending at their highest level since January, sapping some interest from price-sensitive buyers in the region’s emerging markets after they took advantage of lower costs in the first quarter of 2024. But the LNG outlook for this year for the fast-growing markets of South Asia and Southeast Asia remains firm, as rising demand is underpinned by electricity generation needs. Asian spot LNG prices for delivery in June averaged $10.5/m Btu for the week ending 21 April compared with a year-to-date low of $8.30/m Btu in early March. Prices fluctuated at $8–9/m Btu from February to March, which helped unlock Asian demand. Accordingly, spot LNG imports by regional buyers in
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