# Explainer: What's behind the wild surges in global LNG prices and the risks ahead | Reuters

> Asian spot LNG prices have surged from below $2/mmBtu to above $34/mmBtu. European gas storage is at low levels, adding to global competition for cargoes. The explainer covers the risks ahead for winter supply.

- Date: 2021-10-01 · published 2021-10-01T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/44761-explainer-what-s-behind-the-wild-surges-in-global-lng-prices-and-the-risks
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Extreme gas prices raise nitrogen fertilizer production costs and push up energy costs for feed processors. Tight global LNG supply keeps natural gas prices elevated.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-08-26 | [Asian gas importers brace for steep winter LNG prices \| S&P Global](https://feedsoft.ai/events/45734-asian-gas-importers-brace-for-steep-winter-lng-prices-s-and-p-global.md) | +14.4% | +25.1% |
| NATGAS | 2021-10-19 | [Global gas shortage helps lift prices in United States \| Reuters](https://feedsoft.ai/events/44760-global-gas-shortage-helps-lift-prices-in-united-states-reuters.md) | +16.2% | -2.2% |
| NATGAS | 2021-01-14 | [What the Rally in Gas Prices Tells us about Gas Markets and Energy Security](https://feedsoft.ai/events/49334-what-the-rally-in-gas-prices-tells-us-about-gas-markets-and-energy-security.md) | -10.2% | +55.7% |
| NATGAS | 2021-11-17 | [LNG markets eye record prices in race to replenish stocks \| Reuters](https://feedsoft.ai/events/44228-lng-markets-eye-record-prices-in-race-to-replenish-stocks-reuters.md) | -3.6% | -26.2% |
| NATGAS | 2021-11-15 | [Surging US LNG exports hike domestic gas prices amid global supply crunch \| S&P Global](https://feedsoft.ai/events/44231-surging-us-lng-exports-hike-domestic-gas-prices-amid-global-supply-crunch-s-and.md) | +2.1% | -19.7% |
| UREA | 2025-02-27 | [What's driving urea prices for farmers? \| Global Perspective \| The Land \| NSW](https://feedsoft.ai/events/26363-what-s-driving-urea-prices-for-farmers-global-perspective-the-land-nsw.md) | -3.6% | -4.9% |
| UREA | 2021-11-17 | [LNG markets eye record prices in race to replenish stocks \| Reuters](https://feedsoft.ai/events/44228-lng-markets-eye-record-prices-in-race-to-replenish-stocks-reuters.md) | 0.0% | -0.5% |
| UREA | 2026-07-17 | [Global Rice Benchmark Surges 20% in Largest Spike Since 2008…](https://feedsoft.ai/events/9565-global-rice-benchmark-surges-20-in-largest-spike-since-2008.md) | +3.5% | +2.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/whats-behind-wild-surges-global-lng-prices-risks-ahead-2021-10-01/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.