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LNG Cargo Prices Rising Faster Than Bitcoin

  • Exxon, Total, Shell are among sellers with cargoes available
  • Gunvor, Vitol and Trafigura snap up LNG tankers amid shortage
Northern Europe's First Delivery Of U.S. Shale Gas Arrives In Rotterdam
Photographer: Jasper Juinen/Bloomberg
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After years building out export capacity and hiring traders, producers of liquefied natural gas and commodity trading houses are seizing on an unprecedented surge in the price of the fuel.

The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. The North Asian price benchmark has now risen 18-fold in less than nine months, outperforming other commodities -- even Bitcoin.