Cold weather and a scramble to secure natural gas supplies in Asia are impacting more than only power generators, as spot prices for trucked liquefied natural gas (LNG) in China skyrocketed last month, according to Wood Mackenzie. 

The consultancy said spot prices in the LNG transport space nearly doubled in only three weeks in the Hebei, southern Jiangsu and southern Guangdong regions. According to delivered price indices, trucked LNG peaked at $28.00/MMBtu on Dec. 21 in the Hebei and Jiangsu regions. Prices then dropped sharply and increased with another cold snap in late December, Wood Mackenzie said.

China has worked to increase domestic natural gas production and implement more flexibility on the demand side following shortages in recent years, establishing seasonal...