LNG volatility exposes fragility of global energy systems
A bitter cold spell in North Asia coupled with endemic supply shortages in the region saw Liquefied Natural Gas (LNG) prices almost tripling in early January versus December levels. According to the Platts JKM benchmark, spot LNG in Asia was assessed at $32.494/mmBtu on 12 Jan, an all-time record high. Prices have retraced since, with the JKM March contract marked at $8.875/mmBtu on 22 Jan.
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