Asian spot prices for liquefied natural gas (LNG) jumped to their highest in more than 20 months this week on robust buying appetite ahead of a colder-than-expected winter, trade sources said.

The average LNG price for December delivery into northeast Asia LNG-AS was estimated at about $6.90 per million British thermal units (mmBtu), jumping $1.10 from the previous week. Prices were boosted by several requirements from buyers in Japan, China and South Korea. China’s Unipec sought 10 cargoes for delivery in winter, while Shenzhen Energy sought a cargo for December delivery, traders said.

South Korea’s KOGAS may have awarded a tender to buy at least six cargoes for delivery over November to January at just below $7 per mmBtu, while Japan’s Tohoku Electric sought a cargo for delivery in late November to early December, they added.

Sources: Reuters