Asia LNG prices inch up ahead of possible EU ban on Russian oil

FILE PHOTO: Snow-covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland. REUTERS/Gary Cameron//File Photo

LONDON: Asian spot liquefied natural gas (LNG) prices inched up this week as market players fear prices might skyrocket if the European Union imposes a ban on Russian oil and Moscow reacts by halting gas supplies to the continent.

The average LNG price for June delivery into north-east Asia was estimated at $23.90 per metric million British thermal units (mmBtu), up $0.40 from the previous week, industry sources said.