GLOBAL LNG-Asian spot LNG prices rally in six-year high on rising transport costs

Supply shortages in Malaysia, Indonesia, Norway, Nigeria and Qatar are making China, the world's second largest importer of the super-chilled fuel, turn to supply from the U.S., according to traders.

RIO DE JANEIRO: Asian spot prices for liquefied natural gas (LNG) rose to the highest in more than six years this week, with growing shipping rates adding to a supply crunch and high demand for heating, trade sources said.

The average LNG price for February delivery into Northeast Asia was estimated at about $12.50 per million British thermal units (mmBtu), up $1.30 from the previous week ($11.20), the sources said.