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Europe outbids Asia for LNG as prices surge

Published : Thursday, 24 September, 2026 at 6:42 PM

Observer Online Report

Collected Photo

European buyers are outbidding Asian importers for liquefied natural gas (LNG) as soaring spot prices and tight supplies intensify competition ahead of winter.

Asian LNG imports are expected to fall to 20.09 million tonnes in September, the lowest for the month in eight years, as high prices discourage buyers in China and South Asia. In contrast, European LNG imports are projected to rise to 7.98 million tonnes this month and could reach 10.53 million tonnes in October, according to Kpler data cited by Reuters.

Spot LNG prices reached about $26 per million British thermal units (MMBtu) in the week to September 11, up around 150% from February. Disruptions to Qatari supplies and lower European gas inventories have added to pressure on the market.

With winter approaching, European buyers are paying premiums to secure available cargoes, while some price-sensitive Asian buyers are reducing spot purchases or turning to alternative fuels.

The competition is expected to keep the global LNG market under pressure as buyers seek to secure supplies amid continuing disruptions to Middle Eastern gas flows.

-AAH

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Editor : Iqbal Sobhan Chowdhury

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