The cost of the most expensive Asian futures for the supply of liquefied natural gas (LNG) in January 2023 soared on August 25 to $71.3 per million BTU (British Thermal Units), or almost $2,560 per thousand cubic meters, according to the Japan Korea Marker index.

Fuel in Asia began to rise in price after Gazprom announced that supplies via Nord Stream were to be suspended until September 2, as well as due to the postponement of the resumption of the operation of the American Freeport LNG LNG terminal. According to TASS, the price of gas in Asia has quadrupled compared to 2021.

The price of gas in Europe on August 25 exceeded $3,200 per thousand cubic meters for the first time since the beginning of March. The European Union, due to high prices, is reducing the rate of injection into underground storage facilities.

In Asia, not all countries can afford such expensive LNG. Prices rose against the backdrop of intense competition from developed countries purchasing fuel before the winter season.