Europe is competing with Asia for LNG supply, which is driving prices higher and already discouraging some price-sensitive buyers in south Asia from buying LNG cargoes on the spot market
Global natural gas markets are tightening this heating season, leading to higher costs of LNG supply to Europe in what could be a colder winter than the two previous mild winters. Europe has stepped up imports of liquefied natural gas in recent weeks, especially LNG from the United States, where the benchmark gas prices at Henry Hub are significantly lower compared to the Europe an benchmark, the Dutch TTF Natural Gas Futures. With peak demand season in the northern hemisphere approaching, .
But spot LNG prices to north Asia are also rising amid heightened competition from Europe. Last week, the Asian price hit the highest so far this year, at $15.30 per MMBtu. Some Asian buyers, most notably India, have reduced imports due to the rising prices.
Europe Asia Gas Imports Gas Prices TTF Henry Hub
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