Glutted Asian LNG market begins to fall apart

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Cancelations now as prices are lower than anyone can remember for winter around USD5, via Reuters:

Singaporean gas importer and marketer Pavilion Energy has taken the unusual step of cancelling the loading of a liquefied natural gas (LNG) cargo from the United States, but has agreed to pay for it, several industry sources told Reuters.

The global LNG market is awash with new supply amid slowing demand in key countries such as China and Japan, leaving some traders with cargoes they have bought but are unable to resell.

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