Emerging economies in Asia face prolonged electricity crises and continued rolling blackouts as spot LNG prices surge and high demand from Europe is pricing Southeast Asia out of the tight global gas market. For over six months now, Europe has been the key driver of global LNG demand as it looks to replace as much Russian pipeline gas supply as soon as possible. Since the energy crisis of last autumn, Europe has displaced Asia as the growth driver of LNG demand and is no longer “the market of last resort” for LNG cargoes. In Bangladesh, spot LNG purchases stopped in June, and the country is looking for long-term supplies, the country’s state minister for power, energy and mineral resources, Nasrul Hamid, told Bloomberg in an interview published on Monday. However, long-term suppliers such as Qatar have signaled they will have available LNG volumes under term contracts, but only after […]