In the middle of January, Asian LNG prices leapt to over $30/MMbtu. The combination of very cold weather in Northeast Asia and supply issues at some export plants together with a seeming lack of spare LNG tanker capacity, led to the conclusion that a perfect storm had hit the LNG market. This note will consider all the factors impacting on Asian LNG prices and what some of the consequences might be on pricing and contracting for LNG in the Asian market. Source: Mike Fulwood, OIES