Liquefied natural gas (LNG) prices in Asia fell to about $15 per million British thermal units (mmBtu) this week amid low demand from Japan, according to a news report.
Japan intends to increase its “use of coal at the expense of more expensive oil and LNG to counter a jump in energy import costs.” The country’s overseas LNG purchases fell 2% in February, according to government data.
“LNG prices also may get a boost from forecasts for mostly warmer-than-average weather in Japan from April to June, which could increase the demand for electricity,” according to the report.
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