Oil slide to extend biggest LNG drop in 5 years

London

OIL'S slump is set to extend the biggest drop in liquefied natural gas costs in five years, spurring demand in emerging Asian economies.

LNG prices in Japan, the world's biggest buyer of the fuel, will probably plunge 35 per cent in 2015 and Indian costs will decline 33 per cent, according to Energy Aspects Ltd, a London-based consultant. Costs in Asia will this year average below US$10 per million British thermal units (Btu) for the first time in four years as new projects in Australia and the US boost supply through 2016, Bloomberg New Energy Finance (BNEF) said.