Asia’s spot LNG prices have exceeded a key psychological threshold. Rallying LNG prices have seen a massive 870% surge since their lowest levels this year. As tight markets push prices higher, some customers are looking to alternative fossil fuels to keep up with energy demand Driven by the global energy rally, Asia’s spot liquefied natural gas (LNG) prices exceeded this week the psychological threshold of $50 per million British thermal units (mmBtu). The $56.326/mmBtu price of the Platts benchmark Japan Korea Marker (JKM) for November was an all-time high at which a cargo of LNG traded in the Asian market, and was more than $20/mmBtu higher than the previous record of $34.52/mmBtu, set just last week . Rallying LNG prices have already seen a massive 870-percent surge since the low for 2021 at $5.80/mmBtu at the end of February, Reuters columnist Clyde Russell notes . Few cargoes are traded […]