TOKYO -- Japan, China and South Korea have become locked in a scramble for limited supplies of liquefied natural gas, sending prices spiking amid a cold snap.
Asian LNG spot prices have roughly tripled over the past month to more than $30 per million British thermal unit. Even as U.S. Henry Hub spot prices hold steady around $3 per million Btu, the Asian LNG benchmark, which dates back more than a decade, sets records on a daily basis.
