Asian spot prices hit all-time seasonal high – Reuters

Asian spot prices hit all-time seasonal high – Reuters

HOUSTON, Sept 10 (Reuters) - Asian spot prices for liquefied natural gas (LNG) rose this week to their highest seasonal level on record, as European buyers competed with the East for limited world supply.

The average LNG price for October delivery into Northeast Asia was estimated at about $20.10 per million British thermal units (mmBtu), up $0.20 from the previous week, industry sources said. read more

Prices for November delivery were stretching further towards $21/mmBtu, traders said. The cost of super-chilled fuel, used for power generation, rose ten-fold since the $2/mmBtu seen last year, when the COVID-19 pandemic reduced demand.