Europe’s Energy Crunch Sparks Panic in Asia and Dash to Buy Fuel
- LNG traders in Asia paying record prices for this time of year
- Global natural gas rally expected to continue this winter
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The energy crunch in Europe is sparking panic among Asian fuel buyers, causing importers from Japan to India to pay a hefty price for supplies.
Worried the eye-watering price of natural gas in Europe will spill over, LNG traders in Asia say they’re paying record prices for this time of year. Buyers in China and Pakistan have also pushed up the price of gas, coal, propane and fuel oil in order to compete with the U.K. and Spain.