{
  "id": 5277955,
  "title": "Asian LNG Prices Surge to Highest Since 2022 as Iran War Escalates",
  "url": "https://urgent.news/2026/09/03/asian-lng-prices-surge-to-highest-since-2022-as-iran-war-escalates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T07:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Asian-LNG-Prices-Surge-to-Highest-Since-2022-as-Iran-War-Escalates.html"
  },
  "original_language": "en",
  "account": "LNG prices for Asian buyers surged to almost $26 per million British thermal units (mmBtu) on Wednesday, marking a 5% increase week-over-week. This price surge occurred following the resumption of strikes between the United States and Iran. According to unnamed traders, spot LNG for Asia traded at $25.908 per mmBtu late Wednesday, as reported by Bloomberg, citing a strong attack by the US on Iranian new equipment in the Strait of Hormuz. This offensive action came after President Trump stated that the airstrike targeted both defensive and offensive elements.\n\nThe price jump in Asia and Europe was attributed to Qatar's state-owned firm, QatarEnergy, extending a force majeure notice on its LNG deliveries until November. Qatar's Persian Gulf shipments were blocked, leaving South Asian buyers, including Pakistan and Bangladesh, seeking spot supply to replace term supply from Qatar. South Korean, Indian, Taiwanese, and Bangladeshi utilities are looking to buy spot cargoes for October and November, based on tender documents reviewed by Bloomberg.\n\nPakistan, however, declined an LNG offer from BP earlier in the week as the price was considered too high at over $27 per mmBtu. The recent developments in the Middle East indicate that normal LNG flows out of the Persian Gulf are unlikely to resume soon. With a seasonal increase in gas demand, LNG prices are expected to rise further, potentially pricing some buyers out of the market. In Europe, gas prices are also surging, making it challenging for gas buyers to start purchasing ahead of the winter season.",
  "summary": "Spot LNG prices for Asian buyers went up to almost $26 per million British thermal units yesterday for a 5% weekly gain following the resumption of strikes between the United States and Iran. Spot LNG for Asia traded at $25.908 per mmBtu late on Wednesday, Bloomberg reported, citing unnamed traders, after President Donald Trump said “We took out all of the new equipment that they tried to build…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}