LNG Prices Hit New Record High

Liquefied natural gas prices have broken a record, trading at over $34.40 per million British thermal units as forecasts of a cold winter in northern Asia and strong demand from other markets, notably Europe, deepen the gap with supply. The LNG benchmark price on the spot market for cargoes set for delivery in December traded at $34.52 per mmBtu in Asian trade today, topping another record-breaking session on Thursday. The contract for January delivery was higher still, at $34.62 per mmBtu. The spike in prices on the spot market followed an order…