Why have Asian LNG spot prices risen above $23/mmbtu, and what is the primary cause cited in the news?

Asian LNG spot prices rose to $23.388 per million British thermal units due to sustained concerns about the Strait of Hormuz, where LNG flows remain at a near-standstill despite increasing oil tanker traffic; QatarEnergy extended force majeure on LNG deliveries to European and Asian buyers—including Pakistani customers—by another month because of ongoing shipping difficulties through the strait, which previously handled a fifth of global LNG trade.

What evidence does the news provide that LNG supply disruptions are directly impacting major importers like Pakistan and India?

The news states that QatarEnergy notified Pakistani buyers that LNG cargo cancellations will continue into October, with traders confirming the extension of force majeure on supplies to Pakistan; meanwhile, Indian importers Bharat Petroleum Corp. and Hindustan Petroleum Corp. recently purchased spot cargoes for September delivery to India at the low-$23/mmbtu level—indicating reliance on costlier, last-minute spot purchases amid constrained contracted supply.

LNG Wrap: Asian LNG Above $23 as Qatar Extends Force Majeure

Aug 28, 2026

Asian spot LNG prices surged past $23 per mmbtu after Qatar extended force majeure on deliveries amid Strait of Hormuz shipping disruptions. Ongoing delays are expected to sustain elevated prices despite recent mine clearance efforts in the waterway.

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LNG Wrap: Asian LNG Above $23 as Qatar Extends Force Majeure

LNG Wrap: Asian LNG Above $23 as Qatar Extends Force Majeure

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