Asia, Europe LNG Imports Likely To Survive Red Sea Chaos

Despite the continued escalation of tensions and conflicts in the Middle East and the diversion of LNG cargoes away from the Red Sea, natural gas prices in Europe and spot LNG prices in Asia have dropped to the lowest levels in years and months, respectively, even during peak winter season.   Asian demand for LNG has rebounded this winter season, following weaker-than-expected import demand in the 2022/2023 season, while gas inventories in the region are relatively high. This would help the biggest Asian buyers, China, Japan, and South…