Lower LNG prices trigger surge in Asian spot market purchases

April 9, 2024/in /by Rudolf Huber

Yes, it will spur some spot buying but there is a pretty hard limit to what Asia can buy in terms of LNG. It’s what they can fit into their tanks and that’s an expensive method of gas storage. There is not much underground gas storage in Asia. The geology is just not suitable for that. If there is too much LNG on the market, Europe is where you need to go. Europe has very deep gas storage in place and can swallow massive amounts if the need is there. Just make them a deal.

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