Natural Gas Prices in Asia Fall to Pre-Ukraine War Levels on China Shift

(Nikkei Asia) — A benchmark for natural gas prices in Asia has dropped to levels last seen before Russia’s February 2022 invasion of Ukraine as China, one of the world’s biggest consumers of the fuel, changes its buying patterns.

The Refinitiv-calculated spot price for liquefied natural gas (LNG) in Asia dipped to $9.80 per million British thermal units on Friday, falling below $10 for the first time since May 2021. The price is down about 90% since hitting the $70 range last summer.