Russian Gas Supply Uncertainty Sends Asia LNG Prices Surging
- Asian LNG buyers are starting to outbid rivals in Europe
- Suppliers are also purchasing spot supply due to plant outages
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Asian natural gas prices are rallying on fears that Russia will slash supply again and worsen a global fuel shortage.
The North Asia liquefied natural gas benchmark jumped 12% Friday, and is trading near the highest level since Russia’s war in Ukraine upended the global market, according to data from S&P Global. Prices have room to rally further as several Asian importers are desperate for supply through the rest of the year.