LNG Shock Hits Asia as War Disrupts Gulf Exports and Prices Soar
Over the past month, Asia’s imports of LNG have plunged to their lowest level since the Covid pandemic crashed demand in June 2020, as the Middle East war trapped supply and pushed prices to multi-year highs. The 30-day moving average of net LNG shipments to Asia plummeted below 600,000 tons this weekend, ship-tracking data compiled by Bloomberg showed on Monday. This was the lowest one-month moving average of LNG arrivals into Asia since June 2020, according to the data. In China, surging LNG prices amid the war in the Middle East are set…