Asia is the world’s largest LNG market, but demand growth in the region is slowing as competition from Europe for cargoes heats up. Europe’s determination to wean itself off Russian gas means there will be high demand for LNG for years to come, which could have an impact on Asian energy markets. Price-sensitive Asian buyers are already shying away from the spot market and may turn to coal and oil products instead of LNG. Asian demand for LNG is being hampered by sky-high prices of LNG cargoes due to intensifying competition from Europe, which is working around the clock to reduce its dependence on Russian pipeline gas supply. Europe is now the top destination of record-high U.S. LNG exports, while price-sensitive developing economies in the Asia Pacific are steering clear of the spot market and switching to coal and oil products as the price of LNG is unsustainable for […]