Gas market chaos leads to surge in prices

THE European gas crunch has sparked fears that supply issues could spill over into Asia ahead of seasonal winter demand, leading to Japan paying through the nose for winter LNG spot cargoes.

Gas market chaos leads to surge in prices Gas market chaos leads to surge in prices Gas market chaos leads to surge in prices Gas market chaos leads to surge in prices Gas market chaos leads to surge in prices

Asian futures almost hit US$24/MMBtu

Earlier this week Japan's Tohoku Electric Power Co and Gail India both purchased LNG shipments for November and December delivery at prices that are among the highest ever for this time of year,