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Asia Energy Crunch Turns From Bad to Worse on US Export Fire

  • Freeport outage expected to remove dozens of LNG cargoes
  • The stage is set for Asia and Europe to compete for spare LNG
Updated on

Asian liquefied natural gas buyers are ratcheting up competition with Europe to secure spare supply as a series of outages threatens a shortage this winter.

A new timeline presented on Tuesday to restart a key US liquefied natural gas export plant was much longer than traders had anticipated, while lower deliveries from Indonesia to Russia tightened global supply. Asian LNG futures for winter delivery surged to the highest level in over two months.