India Keeps Buying LNG Despite Prices Surging to $26
What Happened
Asian LNG prices have risen to around $26 per million British thermal units (mmBtu), their highest level since late 2022, following disruptions to Gulf supplies and reduced exports from QatarEnergy. As a result, LNG demand across Asia is expected to decline by 3-10% this year. However, India and Bangladesh continue to buy spot LNG cargoes, bucking the regional trend.
Key Takeaways
Asian LNG prices have risen to around $26 per million British thermal units (mmBtu), their highest level since late 2022, following disruptions to Gulf supplies and reduced exports from QatarEnergy. As a result, LNG demand across Asia is expected to decline by 3-10% this year. However, India and Bangladesh continue to buy spot LNG cargoes, bucking the regional trend.