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2026-09-17 16:20:09
[International Energy Agency Executive: Competition Between Europe and Asia for Winter LNG Cargoes May Tighten Further] ⑴ International Energy Agency Executive Director Fatih Birol stated that competition between Europe and Asia for winter LNG cargoes may further tighten the LNG market, driving prices higher. ⑵ Due to the US-Iran conflict, shipments of Qatari LNG, which previously accounted for about one-fifth of global supply, have been disrupted. Buyers have flooded the spot market, causing Asian LNG prices to surge to their highest level since 2022. ⑶ Meanwhile, Europe has severed ties with Russian gas suppliers and is about to enter its peak season for demand for fuels in power generation, industry, and heating. ⑷ Birol stated that if Europe experiences a harsh winter, Europe and Asia may engage in resource competition. This could further push up LNG prices. ⑸ However, he also mentioned that new projects coming online in the US, Canada, Australia, and Malaysia in the coming years will increase supply, potentially easing price pressures.
