LNG Prices Surge: Asia Costs Double, Europe Hits 2022 Highs on Hormuz Disruption

LNG costs for Asian buyers have doubled due to supply disruptions in the Strait of Hormuz, while European gas prices have risen 5% to their highest since 2022 as inventories decline ahead of winter. The disruption threatens global energy security, with Asia bearing the brunt of higher import costs. Uncertainty remains over the duration of Hormuz disruptions and the adequacy of European storage.