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Asia Gas Prices Jump After Russia Pipeline Maintenance Sends Europe to Record

  • Suppliers offer Asian LNG at more than $60 per million Btu
  • Gazprom to shut Nord Stream gas pipeline to Europe for 3 days
Updated on

Asian liquefied natural gas prices extended gains as concern mounts that Russia’s announcement of maintenance on a key pipeline to Europe will further tighten global supplies.

Producers offered LNG spot cargoes for winter above $60 per million British thermal units on Monday, traders said. The Japan-Korea Marker spot benchmark slipped 1.3% to $55.277 per million Btu on Friday before Gazprom PJSC’s announcement, they said, citing data from S&P Global.