LNG Surges to Six-Year High With Cold Snap In Importing Nations
- Spot prices in Asia jumped this week to highest since 2014
- Rally seen continuing in early 2021 on outages, ship shortages
Photographer: Felix Cesare/Moment/Getty Images
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Liquefied natural gas has made a dramatic rebound from a pandemic-induced demand collapse, and the rally in the heating and power-plant fuel could extend into next year.
The onset of colder weather in key importing nations, outages at major production hubs and congestion along global shipping routes have combined to push spot prices in Asia this week to the highest level since 2014, a more than sixfold jump from a record low in April.