“The uptick in demand and spot prices over the last year has brought home the risks to buyers of being exposed to the spot market too much,” said Saul Kavonic, Credit Suisse Group AG’s director of energy research in Asia. The world 's largest buyers of LNG are negotiating mid - term , three - year supply contracts in an attempt to avoid increases in prices , which are averaging the highest since 2014 . LNG prices in northeast Asia are averaging at a price of $ 9.50 per million British thermal units , and have prompted major LNG producers such as BP , PetroChina and Japan 's Jera to seek an alternative to the spot price before the region 's harsh winter season .
The world 's largest buyers of LNG are negotiating mid - term , three - year supply contracts in an attempt to avoid increases in prices , which are averaging the highest since 2014 . LNG prices in northeast Asia are averaging at a price of $ 9.50 per million British thermal units , and have prompted major LNG producers such as BP , PetroChina and Japan 's Jera to seek an alternative to the spot price before the region 's harsh winter season .