Liquefied Natural Gas Ltd (ASX: LNG) has seen its share price plunge by 9% to around $2.50 in late afternoon trading.
Over the past month, the LNG share price has dropped 36%, on the back of falling oil prices.
Overnight, the benchmark West Texas Intermediate (WTI) crude oil price fell to just above US$40 per barrel, its lowest level in six years.
The oil price is down more than 30% since June amid signs that US producers are maintaining output, despite the lower prices.
But Citigroup analysts are predicting a price of US$32.40 a barrel reached in 2008 is 'a conceivable reality', according to Bloomberg.
Liquefied Natural Gas is developing an export LNG plant in the US, but if prices keep falling, exporting liquefied natural gas may become unprofitable. That could leave LNG's plant in limbo until prices recover.