July 29, 2022 08:11 GMT
Asian LNG prices soared to the highest level since March this week
- Front month JKM prices have risen from around 23$/mmbtu in early June up to 44$/mmbu with supply issues in Europe driving global markets higher.
- The risk of a disruption to Asian LNG supplies has increased with Russia asking customers to make LNG payment through a Russian bank. Japanese utility Kyushu Electric is considering plans to boost LNG supply from other existing suppliers if Sakhalin-2 supplies are disrupted.
- Japan is struggling with an ongoing tight power supply which could be even worse during the upcoming winter.