Commodities
LNG Prices to Climb Further Amid Persistent Supply Disruptions
JERA's CEO has warned that LNG prices will continue to climb as supply disruptions persist.
The company, Japan's largest power producer and biggest LNG importer, expects Qatar's LNG shipments to be delayed due to the ongoing US-Iran stalemate at the Strait of Hormuz.
State-owned QatarEnergy extended its force majeure on LNG deliveries to Asia and Europe by another month through November 30, citing the blockage of cargo traffic through the Strait.
The lack of supply from Qatar has pushed Asian spot LNG prices and Europe's benchmark natural gas prices to their highest levels since the 2022-2023 crisis.