LNG Prices Below $12/MMBtu Needed For Emerging Asia Countries: ANGEA

LNG prices need to stabilize further for proper market rebalancing as current prices are still high for many South Asian and Southeast Asian nations according to CEO of Asia Natural Gas and Energy Association.

• "In the absence of ready LNG availability from key supply nations worldwide -- the US, Australia, Qatar, -- an ANGEA commissioned study by Rystad Energy forecasts that global gas prices will likely remain at or above the $12/MMBtu mark on average for the foreseeable future," CEO Paul Everingham said to S&P Global.
• Rystad Energy has forecast LNG prices need to be below $12/MMBtu to be affordable for emerging countries in Asia to increase gas use or switch from coal to gas.
• Europe has quickly and successfully built gas infrastructure to help manage future energy risks shortage spending more than €750bn over the last 12-18 months according to the study with Rystad Energy.
• Europe could still face shortage in winter, raising gas prices and potentially harming Asian buyers and highlights the need to diversify supply sources and contract lengths, he said.
• "Our research suggests that LNG consumption will continue to grow in Asia from 2025-2026," Everingham said.