# Excess supply drives Asia LNG to 10-year low

> Natural gas in Asia is heading toward its lowest price in a decade, with the JKM marker assessed at $4.11/MMBtu versus $9.88 a year earlier. CNOOC bought an LNG cargo for early September delivery at about $3.90/MMBtu. The slump is attributed to a flood of new supply from Australia and the US alongside mild North Asian weather.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: market · region Asia · magnitude low
- Page: https://feedsoft.ai/events/58272-excess-supply-drives-asia-lng-to-10-year-low
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Cheap spot LNG weakens the case for oil-linked long-term contracts and pressures energy majors' gas earnings, with limited direct effect on feed grain prices.

## Sources

- worldoil.com: https://www.worldoil.com/news/2019/7/31/excess-supply-drives-asia-lng-to-10-year-low/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.