Market brief · Economy & rates

Soaring LNG Prices Push Asian Demand Toward Second Annual Decline

Demand for liquefied natural gas in Asia is set to decline this year by between 3% and 10% on higher prices, according to analysts cited by Reuters. This would be the second annual decline in Asian LNG demand, with the northeastern parts of the continent accounting for most of it, the publication reported. LNG prices have soared globally in the aftermath of the QatarEnergy force majeure on exports that followed Iranian strikes on its Ras Laffan gas hub. “A lot of that demand destruction has been absorbed by Northeast Asia ... they have coal,…