Reuters: Asian LNG Price Faces Steep Fall as Perfect Storm Brews

Asian liquefied natural gas (LNG) prices could fall a further 25 percent in coming months as new supply, falling demand and weaker oil prices put it on par with iron ore and coal as the worst performing commodity of recent years.

Asia's LNG market has already fared worse than slumping oil markets, with spot prices LNG-AS down 60 percent since 2014 to $8 per million British thermal units (mmBtu), ending half a decade of high prices.

Australia's biggest energy firm, Woodside Petroleum , in August reported a 40 percent slide in first-half profits and said it expected LNG prices to remain low into 2016.

Ratings agency Moody's said on Monday it expected Woodside's credit metrics "to deteriorate substantially from its previously very strong levels." MORE