Supply Concerns Lead To Record High LNG Spot Prices In Asia

The spot prices of liquefied natural gas (LNG) in Asia jumped to a record-high of $59.672 per million British thermal units (MMBtu) on Thursday, as the market panics over natural gas supplies following Russia’s invasion of Ukraine. The price of spot LNG, the Japan-Korea-Marker (JKM) benchmark for the region, as assessed by S&P Global Platts, soared this week to beat the previous record of $56.326/MMBtu set in October 2021. Back then, the market was tight ahead of the winter in the northern hemisphere, with Europe and Asia experiencing…