Rising LNG Demand From South Asia Worsens Global Gas Crisis

Emerging economies in South and Southeast Asia are returning to the spot liquefied natural gas (LNG) market these days, despite the high prices of cargoes, creating additional gas demand globally amid a supply crunch that has seen European gas prices hit record highs in recent weeks. Bangladesh, Pakistan, and India are back to buying spot LNG cargoes, despite their sensitivity to high prices, traders told Bloomberg on Thursday. Those countries, and others in south Asia, are forced to buy expensive LNG to avoid blackouts and to keep industries operational.…