Morgan Stanley Sees Asian LNG Prices Hitting 3.5-Year High by 2026

Key Facts

1Morgan Stanley predicts Asian LNG prices will reach $25 per MMBtu in the second half of 2026.

Amid shifting structural dynamics in global energy markets, new forecasts suggest significant upward pressure on fuel costs across the Asian continent. Morgan Stanley predicts Asian LNG prices will reach $25 per MMBtu in the second half of 2026. This projected surge is driven by increased electricity demand during Asian summers, China's proactive purchasing ahead of heatwaves, and the European Union's ongoing necessity to replenish gas storage facilities.

These forecasts arrive as markets witness intense competition between Asian and European buyers for spot cargoes, with previous reports from Reuters indicating that China's LNG imports hit record levels in recent months to bolster energy security. Compared to peers, companies like Shell and TotalEnergies noted in their latest earnings calls that integrated gas margins remain robust due to global price volatility per market data.

Regarding price action, the instrument 0QYU.L stood at $211.11 (at close June 11, 2026), having touched a daily high of $216. Traders should monitor the upcoming OPEC Meeting scheduled for June 7, 2026, as oil production decisions often exert indirect influence on broader energy market sentiment and LNG pricing trajectories.