Asia-Pacific economies are facing an energy crisis that threatens to worsen in coming months and reach historic proportions if the Russia-Ukraine war continues. The magnitude of the crisis varies in different countries but broader trends are identical – high fuel prices, supply disruptions, domestic energy shortages, blackouts, involuntary demand destruction, calculated energy rationing, depleting forex reserves and market volatility. Prices Asian spot LNG prices for the summer of 2022 are at their highest level for this time of the year. The Platts JKM for August was assessed at $36.888/MMBtu June 24, S&P Global Commodity Insights data showed. Trade flows European gas fundamentals are still largely dictating global spot LNG prices and as LNG continues to replace piped gas supply into the region, Asia will lose LNG cargoes to Europe and see lower inflows for the rest of this year compared to previous years. India and China have posted some […]