Buyers’ mistakes likely to blame for LNG price surge, not only winter: Russell
Reuters
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Prices have rallied to $21.45 per mmBtu, an astonishing 1,060% since they hit an all-time low of $1.85 in May
Clyde Russell
The surge to record highs for the price of spot liquefied natural gas (LNG) is being largely attributed to severe cold weather over much of northern Asia, but miscalculations by buyers of the fuel are probably a larger factor.
The weekly spot price assessment settled at $21.45 per million British thermal units (mmBtu) on January 8, eclipsing the prior record of $20.50 from February 2014. Prices have rallied an astonishing 1,060 per cent since they hit an all-time low of $1.85 in May.
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