Asian spot LNG prices at five-month high on firm demand, geopolitical risks
Asian spot liquefied natural gas (LNG) prices surged to a five-month high, marking the fourth consecutive week of gains. This increase, fueled by robust demand and mirroring European gas market trends, underscores concerns over potential disruptions to Russian gas supply. Strong demand, unexpected outages, and geopolitical tensions continue to buoy prices.
Asian buyers, including China and Thailand, are capitalizing on comparatively lower prices this year, driving record import levels. Hot weather in key Asian markets boosts power demand, further stimulating LNG purchasing.
Meanwhile, in Europe, maintenance outages and apprehensions over Russian pipeline supply tighten discounts to the Asian market. Geopolitical uncertainties, such as potential disruptions to Russian exports, prompt market scrutiny. In the US, LNG production remains steady, while Atlantic freight rates witness a notable uptick, contrasting with a slight decline in Pacific rates.
Related News
Related News
- Gasum selects Wärtsilä for another bio-LNG project in Sweden
- Linde selected to supply carbon capture technology to ADNOC’S Hail and Ghasha project
- Tecnimont to build waste-to-biogas plant to fuel local kitchens in India
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
- Indonesia regulator confirms disruption at bp's Tangguh LNG project
Comments