Driven by the global energy rally, Asia’s spot liquefied natural gas (LNG) prices exceeded this week the psychological threshold of $50 per million British thermal units (mmBtu). The $56.326/mmBtu price of the Platts benchmark Japan Korea Marker (JKM) for November was an all-time high at which a cargo of LNG traded in the Asian market, and was more than $20/mmBtu higher than the previous record of $34.
52/mmBtu, set just last week. Rallying LNG prices have already seen a massive 870-percent surge since the low for 2021 at $5.80/mmBtu…Record High LNG Prices Could Result In Demand Destruction
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