Asia Gas Buyers Wary of Paying High Prices to Restock for Winter
- Negotiations for fourth quarter LNG supply are falling flat
- This raises the risk of shortages if weather shifts colder
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Some Asian liquefied natural gas importers are reluctant to procure more fuel for winter due to sky-high prices, risking shortages if the weather suddenly shifts much colder.
While Chinese and Japanese buyers are locked in discussions with suppliers about purchasing LNG shipments for the fourth quarter, negotiations are falling flat, traders said. Spot prices are too high, and the rapidly strengthening dollar is exacerbating the surge in fuel costs, they added.