Japan demand to push Asia LNG prices up
Due to nuclear shutdowns, Japan started buying cargoes from South America for the first time
Asian liquefied natural gas (LNG) prices climbed this week, spurred by Japan, which started buying cargoes from South America for the first time, indicating tightness in the market. Trader said Japanese nuclear shutdowns are likely to push Asian spot LNG prices above $13/million British thermal units (Btu) ahead of summer, with Japan’s nuclear fleet utilisation slipping to a three-year low and pointing toward more LNG imports to meet electricity demand. “Some quotes are already $13/million Btu, but this level is closer to the sellers’ price. Probably the next physical cargo deals will be done above the $13/million Btu level,” an LNG trader said. “Sellers are quite bullish, because unaffected
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
