According to SCI’s monitoring data, this week ended December 6, SCI LNG Index (China’s LNG assessed national average price, including samples from LNG plants’ ex-works prices and LNG receiving terminals’ tank truck loading prices) averaged at ¥4,300.69/mt ($12.06/mn Btu), down ¥210.81/mt ($0.45/mn Btu) or 4.67% from last week.

Thanks to NOCs’ previous work, the gas supply was generally sufficient in China up to now in this winter. On the other hand, the downstream demand was not as strong as predicted. In fact, the LNG average price has already dropped back to the same level in late July.

It’s predicted that the LNG price may increase back to the previous price level in November in next week, though SCI don’t think the fluctuations will be big. Even the feedstock limitation in Northwest China didn’t push up the LNG price to a high level. Now SCI’s holding a kind of bearish prediction to the LNG price. Note: Prices and changes between weeks may be different due to exchange rate fluctuations.