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Asian LNG prices plunge 30% as Europe supply worries ease

Chinese and Japanese inventories slacken, but weather uncertainty remains

Tugboats pull an LNG tanker toward a thermal power station in Futtsu, Japan.   © Reuters

TOKYO -- Asian spot prices for liquefied natural gas have dropped by 30% in a span of a week, with Chinese and Japanese inventory pressures easing after a similar plunge in Europe.

The weekly LNG spot price for the Asia region stood at $33.80 per million BTU on Thursday last week, down from the record $48.30 logged on Dec. 23.

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