LNG Prices Soar as Europe Outbids Asia for Winter Supply

Global natural gas markets are tightening this heating season, leading to higher costs of LNG supply to Europe in what could be a colder winter than the two previous mild winters. Europe has stepped up imports of liquefied natural gas in recent weeks, especially LNG from the United States, where the benchmark gas prices at Henry Hub are significantly lower compared to the European benchmark, the Dutch TTF Natural Gas Futures. With peak demand season in the northern hemisphere approaching, Europe is competing with Asia for LNG supply, which is driving…