GLOBAL LNG-Asian prices rise to over two-year high driven by heating demand

Production issues in Australia and Malaysia, two of the top four largest exporters, and delays in the Panama Canal, through which U.S. ships part of its liquefied gas, are adding to tighter supply.(File pic shows Malaysian MISC's LNG tanker Camellia)

RIO DE JANEIRO/SINGAPORE: Asian spot prices for liquefied natural gas (LNG) rose this week to the highest since Sept. 2018 due to high demand for heating, a supply crunch and increasing freight rates, trade sources said.

The average LNG price for January delivery into northeast Asia was estimated at around $11.10 per million British thermal units (mmBtu), up $3.00 from the previous week, the sources said.