TOKYO, August 25. /TASS/. The price of the most expensive Asian futures contracts for delivery of liquified natural gas in January 2023 has skyrocketed to $71.3 per 1 mln BTU (British thermal units), or almost $2,560 per 1,000 cubic meters, according to data provided by CME Group on the JKM Platts Index (Japan Korea Marker, reflects the cost of LNG supplies to Japan, South Korea, China and the island of Taiwan).

LNG prices in Asia keep rising following prices in Europe after Gazprom announced the suspension of supplies via Nord Stream from August 31 to September 2, as well as amid a delay in the launch of partial operation of the Freeport LNG plant in Texas after repairs. Fierce market competition among developed countries, including Japan and South Korea that are boosting reserves before the winter, is another factor pushing prices up.