CommoditiesMedium•4 November 2026•
1 min read
Asian LNG Spot Prices Triple as Global Supply Crunch Intensifies
Key Facts
1LNG spot market prices in Asia have tripled since the start of the year, surpassing $31 per million British thermal units.
2QatarEnergy has extended a force majeure on its LNG exports amid the ongoing supply crunch.
LNG spot market prices in Asia have tripled since the start of the year, surpassing $31 per million British thermal units. OilPrice.com reported that QatarEnergy has extended a force majeure on its LNG exports as the conflict in Iran chokes supply chains, resulting in approximately 60 billion cubic meters of lost supply according to IEA estimates.
The supply disruption coincides with rising structural power demand from the AI data center boom, pushing Asian benchmarks as high as $33 per mmBtu. In equity markets, HGAS closed at $0.0501 on November 2, 2026, as the IEA warned that global gas supply is expected to remain tight through next year.