China's LNG prices more than doubled on year driven by surging international prices, strong demand in traditional low season

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China's liquefied natural gas (LNG) prices hit 5,462 yuan per tonne on August 13, jumping 113.86 per cent from the same period last year to hit the level seen during the winter peak season in mid-December 2020, according to the price index published by the Shanghai Petroleum and Natural Gas Exchange.

Surging domestic LNG prices was mainly driven by soaring prices in the international market. While demand is rising amid the gradual economic recovery, gas supply hasn't been fully recovered, sending LNG prices to surge.

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