Asian LNG prices surge as buyers shun Russian gas

Bullish sentiment may emerge as an unplanned outage at Malaysia LNG Satu is likely to take around 2 cargoes off the market between March and April, potentially triggering replacement demand, said Kaushal Ramesh, senior LNG analyst at Rystad Energy.

LONDON: Asian spot liquefied natural gas (LNG) prices rose this week, buoyed by concerns over Russian supply to Europe as buyers shun Russian gas and LNG in response to its invasion of Ukraine.

The average LNG price for April delivery into north-east Asia LNG-AS was estimated at $40.5 per metric million British thermal units (mmBtu), up $3, or 8% from the previous week, industry sources said.