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HOUSTON- Spot prices for liquefied natural gas (LNG) in Asia rose this week to their highest for this time of the year since 2013, as buyers prepare for more extreme temperatures amid a supply crunch.
The average LNG price for September delivery into Northeast Asia LNG-AS was estimated at about $16.90 per million British thermal units (mmBtu), up $1.30 from the previous week, industry sources said.
Demand for LNG, mainly used in thermal plants to generate electricity, rises during the northern hemisphere summer to meet air-conditioning needs.
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