Rio de Janeiro/Singapore dec 12 - Spot prices of liquefied natural gas (LNG) in Asia rose to their highest level since September 2018 this week on strong demand for heating, tight supply and higher freight rates, according to trade sources.

  The average LNG price for delivery to Northeast Asia in January was about $11.10 per million British thermal units, up $3.00 from the previous week, according to sources. The price for Delivery in February is estimated at about $10.50 per million BTU.

  Weather data from Refinitiv Eikon showed that temperatures in Beijing, Tokyo and Seoul are expected to be below average over the next two weeks, which will increase demand for natural gas for heating.

Rising imports and a lack of transport capacity as the economy recovers have also pushed up prices, according to sources.

  "China's LNG imports hit a one-year high in November and are set to rise further, pushing up demand," said a Trader in London.

  In a sign of how tight supplies are, Pakistan LNG recently tendered bids for six January shipments, but only met half of its demand, according to sources.

  Production problems in Australia and Malaysia, two of the world's top four gas exporters, and delays in the Panama Canal, through which the US ships some of its liquefied natural gas, have added to the supply squeeze.

  Prices are expected to stabilise in the second half of January as US gas production hits a record high, according to traders. Us gas prices are now below $3, making exports profitable.

  Asian LNG prices have risen more than fivefold since June, when falling demand due to COVID-19 sent prices below $2.00 per million bTU.