Highlights Importers say price level is ‘extreme’ for this time of year Buyers shying away from spot LNG procurement Utilities switching to coal, fuel oil amid gas price surge Asian spot LNG prices surging past $25/MMBtu have sent the region’s biggest natural gas importers scrambling to hedge energy price exposure for winter, dampened spot market interest and accelerated switching to alternative fuels. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Japanese LNG importers said the price level was “extreme” for this time of the year and at least two city gas utilities said companies were not seeking spot LNG cargoes because of slow domestic demand amid the coronavirus pandemic. One source with a Japanese power utility said it had secured sufficient LNG cargoes for winter but the price level was a “little scary” amid signs of tightening supplies in Asia and Europe, and buyers could […]