Asia cuts LNG buying, but $26 gas sends Europe shopping
6 Articles
6 Articles
Asian imports of liquefied natural gas (LNG) are expected to fall to their lowest level in eight years. Record-high gas prices are deterring buyers in Asia, with the largest drop in imports expected particularly in China. This is good news for European buyers, as it means more supplies will be available for Europe. Nevertheless, experts at Kpler, a commodities market analysis firm, report that this is not expected to lead to a price decline.
Asia cuts LNG buying, but $26 gas sends Europe shopping
Asia's liquefied natural gas imports are experiencing an eight-year low this September. High spot prices are causing buyers in China and South Asia to reduce their purchases. This situation allows Europe to secure more vital gas cargoes for winter storage needs. Qatar's reduced LNG shipments due to regional conflict have tightened the global market. Consequently, spot prices for the super-chilled fuel have reached multi-year highs.
How India Managed Energy Crisis Amid Middle East Tensions
The Indian basket crude oil price, which largely remained around $60-70 per barrel through 2025, has climbed sharply in 2026, crossing $110 per barrel in March and April before crossing $130 per barrel in September 16, 2026.
Due to the tension in the Middle East, LNG prices have reached a record level of 26 dollars. Many big countries of Asia have reduced their purchase of gas, but India is constantly buying gas even in this crisis.
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