Winter is coming – temperature extremes fuel global gas rally

East Asia, home to the world’s top two LNG importers Japan and China, shipped in 18 million more tonnes in the first seven months of 2021 than over the same period in 2020, Xi Nan, vice-president of gas and power markets at Rystad Energy, said. (File pic shows MISC's LNG tanker Camellia)

SINGAPORE: Global gas prices are expected to break records this winter as a hot northern hemisphere summer leaves inventories low in key markets, just as green energy drives ramp up in new regions.

Benchmark Dutch natural gas prices in northwest Europe have surged 80% in the past three months to all-time highs, while spot liquefied natural gas (LNG) in Asia is at an eight-year seasonal high, Reuters data showed.