LNG

Sept 22 (LNGJ) - LNG prices may sink as low as $4 per million British thermal units by 2017 because of a glut and probably will not rise above $8 per MMBtu before 2020, said a leading consultant. FACTS Global Energy Chairman Fereidun Fesharaki said in his latest analysis that this possible new low of $4 per MMbtu for LNG compares with the latest spot price of $7.10 for LNG shipped to Japan and the $9.30 per MMBtu paid by Japanese holders of long-term contracts linked to the oil price. "It's an ugly environment," Fesharaki said. The analyst said spot LNG prices in Asia had dropped for six weeks with few buyers and have now declined more than 60 percent from a record $19.70 in February 2014.