GAZB - U.S.-to-Asia LNG shipping rates rip higher on Asia buying boom

The cost of shipping liquefied natural gas from the U.S. to Asia hit a record high today, and a scarcity of on-the-water LNG cargoes heading to Asia means buyers of prompt deliveries have been left with few options to meet heavy demand.Freezing temperatures across Asia and Europe have pushed up LNG prices as buyers try to cope with shrinking inventories and the shortage of tankers.Average daily tanker rates on the U.S. Gulf to Japan route rose to $253,270 today, compared with $174K/day at the end of last year, Baltic Exchange data shows.But with Asian spot prices topping $30/MMBtu, extending a historic rally, three U.S. LNG facilities are seeing lower utilization, according to S&P Global Platts.Kinder Morgan's (KMI) Elba Liquefaction in Georgia is working on scheduling repairs to a unit at the 10-train facility that has been offline since a fire eight months ago, Cheniere Energy's (LNG) Corpus Christi Liquefaction facility in

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U.S.-to-Asia LNG shipping rates rip higher on Asia buying boom