The North Asian JKM LNG spot price jumped up to 61.025$/mmbtu yesterday as global prices surged due to fears for Russian gas supply to Europe.

  • Japan, South Korea and Taiwan are all trying to compete with Europe for LNG cargoes to boost winter supplies.
  • The spot price reached the highest since early March when prices spiked due to Russia’s invasion of Ukraine. Front month JKM have also reached a new record at 57.8$/mmbtu.
  • An alternative to gas for power generation is coal but the Newcastle coal has more than quadrupled in the last year, up from 104$/mt to 445$/mt.

Asian JKM Jumps on Tight Global Supply

Last updated at:Aug-23 08:01By: David Lee
Power Bullets+ 1

The North Asian JKM LNG spot price jumped up to 61.025$/mmbtu yesterday as global prices surged due to fears for Russian gas supply to Europe.

  • Japan, South Korea and Taiwan are all trying to compete with Europe for LNG cargoes to boost winter supplies.
  • The spot price reached the highest since early March when prices spiked due to Russia’s invasion of Ukraine. Front month JKM have also reached a new record at 57.8$/mmbtu.
  • An alternative to gas for power generation is coal but the Newcastle coal has more than quadrupled in the last year, up from 104$/mt to 445$/mt.

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