Record-high spot LNG charter rates caught markets by surprise in 2018, demonstrating that bottlenecks can emerge suddenly and unexpectedly along the entire natural gas supply chain. In an excerpt from A Changing Global Gas Order 3.0, authors Akos Losz, Tim Boersma, and Tatiana Mitrova analyze the causes of the 2018 LNG vessel cruch and discuss the implications for spot LNG rates moving forward.