Asian LNG buyers push back on high prices
Asian buyers have gone public with their distress over the high prices they’re paying for liquefied natural gas. The premium they pay over natural gas prices in Europe and North America no longer is rational, fair or reflective of supply-and-demand fundamentals for LNG, they say.
But at Japan’s first LNG Producer-Consumer Conference this month, LNG sellers urged caution in tinkering with a supply chain that provides tens of billions of dollars a year of natural gas to resource-poor nations like Japan, South Korea and Taiwan, or resource-hungry nations like China and India.
The dialogue was pragmatism on one side vs. frustration on the other.