Strait of Hormuz Shipping Strain May Push Up Asian LNG Spot Prices

【Strait of Hormuz Shipping Strain May Push Up Asian LNG Spot Prices】

(1) Megan Jenkins, senior lead analyst for Asian LNG at S&P Global Commodity Insights, said that if shipping capacity through the Strait of Hormuz remains tight after the new year, Asian LNG spot prices could average $30 per million British thermal units (MMBtu) in January and February.

(2) Jenkins said Tuesday at the Singapore International Energy Week conference that in this scenario, prices could fall to around $20/MMBtu as demand enters the off-season from March to May.

(3) If Qatari supply recovers in January, prices during next year's off-season would drop to about $10/MMBtu; S&P Global expects the October-December average to be around $26/MMBtu.