Asia LNG Spot Price up 40% to Record High
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Amid a global energy crisis and low gas inventories, Asia liquefied natural gas (LNG) spot prices surged by 40% to a record high.
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Gas demand for heating is expected to rise
Spot prices of Asian liquefied natural gas (LNG) surged by 40% to a record high of over $56 per million British thermal units (mmBtu) today, on Wednesday, amid a global energy crisis and low gas inventories, and mounting supply concerns.
Price agency S&P Global Platts' Japan-Korea-Marker (JKM) climbed to $56.326 per mmBtu today, recording the largest single-day price increase of $16.65 from Tuesday.
The price surges come at a time when the winter season is just starting in the northern hemisphere and with expectations that gas demand for heating will go up, especially from top LNG buyers, such as China and Japan.
