Asia spot LNG price soars above $16/mmBtu

SINGAPORE: Asian spot liquefied natural gas (LNG) prices soared above $16 per million British thermal units (mmBtu) on Thursday, with PetroChina selling a cargo to Trafigura, data from price agency S&P Global Platts showed.

PetroChina sold a cargo for delivery into the Fujian terminal in China over Sept. 4-8 at $16.14 per mmBtu during the Platts' pricing process known as market-on-close, the data showed.

This is the highest that spot Asian prices have reached since January and their highest for this time of year since 2013, Reuters data showed.

New LNG deal signed; shipments to start in Jan

Firm demand from North Asia has been boosting prices in the region, trade sources have said.