Asia Braces for LNG Price Surge as Russia Cuts Some Supply to EU
- Some Asian LNG buyers are checking on available shipments
- Russia to cut gas to Poland, Bulgaria on rubles payment snub
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Liquefied natural gas importers in Asia are bracing for higher spot prices as Russia’s move to cut some supply to Europe is poised to further tighten the global market.
Moscow is cutting off gas to Poland and Bulgaria, making good on a threat to halt flows to countries that refuse President Vladimir Putin’s new demand to pay for the fuel in rubles. The escalation of the standoff between Russia and the European Union over energy supplies is sending prices on the continent surging.