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
![](/media/1042/gpenews_300x140.jpg)
- Power Knot LLC receives continued orders from ExxonMobil PNG for food waste digester consumables, spare parts
- Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion
- WhiteWater's ADCC Pipeline in South Texas begins transporting natural gas
- Gasum powers Equinor's platform supply vessel with bio-LNG
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Desert Mountain Energy Corp. initiates helium production
- WhiteWater's ADCC Pipeline in South Texas begins transporting natural gas
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- Brazil's fossil push undermines Lula's green ambitions
Comments