Weather & Science
Arctic Blast Raises China LNG Prices Ahead of February Cold Snap
An LNG carrier is assisted by a tugboat as it docks in Shandong province.
Photographer: Costfoto/NurPhoto/Getty Images
An Arctic blast is driving temperatures sharply lower across China this week, helping buoy liquefied natural gas prices and prompting authorities to issue warnings about freezing weather.
The colder weather has supported demand for heating fuels and halted a two-month slide for domestic LNG prices. The cost of supplies at import terminals inched up to 4,001 yuan a ton ($11.04 per million British thermal units) on Monday from 3,998 yuan on Friday, according to data from the Shanghai Petroleum and Natural Gas Exchange.