Energy security and emissions reduction targets, especially in China, are prompting more buyers to seek long-term contracts The sellers, for their part, now ask for higher prices in the discussions Surging spot prices of liquefied natural gas in Asia are giving LNG producers and sellers an advantage in contract negotiations for long-term supply with buyers, industry participants with knowledge of ongoing talks have told Reuters . Buyers in Asia, which relied very much on spot supply last year when LNG spot prices plummeted to $2 per million British thermal units (mmBtu), are now looking to lock in more long-term gas supply as spot prices hit a record of over $50/mmBtu for some cargoes traded earlier this month. Energy security and emissions reduction targets, especially in China, are prompting more buyers to seek long-term contracts. The sellers, for their part, now ask for higher prices in the discussions, according to […]