Prices of spot liquefied natural gas (LNG) to northeast Asia for May delivery remained under pressure, falling 52.6% year over year to average $7.380 per million British thermal units (/MMBtu).
This is according to latest Platts Japan/Korea Marker (Platts JKM™) data for month-ahead delivery.
The figure reflects the daily JKM assessed published by Platts, a leading global energy, petrochemicals and metals information provider and a premier source of benchmark price references, between 16 March and 15 April expressed as a monthly average.
Despite the steep year-over-year decline, the average May JKM showed an increase of 1.4% from April’s $7.279/MMBtu – the first gain in month-over-month average prices since November. This suggested that the JKM could have bottomed following a steady downtrend, as the marker lost more than 30% since the start of the calendar year.
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