LNG Price in Asia Goes Nuts, Cargoes Fetching Record $34.47/MMBtu

Spot Asia-Pacific LNG prices hit a record high yesterday on "persistent supply constraints in global gas markets" and "strong winter restocking demand among Asian end-users." The S&P Global Platts JKM price for November hit $34.47/MMBtu, the highest level for the Asian spot LNG price since it was launched in early 2009. Some Marcellus/Utica LNG goes to Asia, although most of it is under long-term contracts at much lower prices.

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