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Singapore LNG Spot Index Falls to Lowest Since 2014 Amid Glut

  • SLInG weekly spot index declines sixth week to $5.461/mmBtu
  • New export projects in U.S. and Australia add to oversupply

A Singapore liquefied natural gas spot index has dropped to the lowest since it started as new production capacity in Australia and the U.S. adds to a global oversupply.

The index price fell for the sixth consecutive week to $5.461 per million British thermal units on Monday, the lowest since the price assessments began in Sept. 2014, according to Singapore’s Energy Market Co. The spot price for LNG shipments to northeast Asia have tumbled to $6.45, matching the lowest price since 2010, according to New York-based Energy Intelligence Group.