The cost of supplying U.S. liquefied natural gas (LNG) to Asia has spiked this year, but with a shortage of natural gas to meet widespread demand across the world, that is likely to have little impact on output that is expected to reach record highs.

An analysis by Rystad Energy found that the short-run marginal cost (SRMC) of U.S. LNG exports to Asia have risen significantly to $5.60/MMBtu this month, up 65% from $3.40 at the same time last year and 30% higher than the 2020 average of $4.30. 

The SRMCs of liquefaction facilities across the world have jumped across the board due to higher maritime transportation and fuel costs, Rystad said. Charter rates have been on the rise in recent months as tonnage has been stretched thin by abnormally high demand in Europe, Asia and South...