Spot prices of this fuel, which are already high (due to seasonality factors for the year), now risk skyrocketing as both Asian and European buyers want to pay high prices for stock.

Traders estimate that LNG prices in North Asia today will rise to the highest level since the beginning of March – the time when the Russia-Ukraine conflict has just taken place.

This winter’s LNG supply will also shrink due to supply chain disruptions from Australia to the US.