Asian spot prices for LNG fall after India cancels cargoes

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After India, the worlds fourth-largest importer, cancelled cargoes as the Coronavirus outbreak hit demand,Asian spot prices for liquefied natural gas (LNG) fell recently, according to reports.Indias city gas distribution company GSPC has asked suppliers to cancel cargoes for June delivery, it is learnt.Buyers have been selective as inventories are full and LNG demand for transport, commercial and industrial sectors fell amid rising infection rates.The average LNG price for July delivery into Northeast Asia LNG-AS was estimated at $9.60 per million British thermal units, down $0.65 from the previous week.Taiwans soft lockdown also helped to drag prices down, as per a report.