Prices double, finding cargo ships is difficult! Many countries in Asia are facing the dilemma of "no gas available".

Due to the forced shutdown of Qatar's largest liquefied natural gas export facilities due to conflicts in the Middle East, the global supply of ultra-low temperature fuel has tightened, making it difficult for some Asian buyers to purchase immediate shipments. With increased uncertainty in the duration of the conflict between the US and Iran, countries such as Thailand, Bangladesh, India, and Vietnam are ensuring short-term energy security through the spot market. However, several bids initiated by Indian state-owned gas giant GAIL, Gujarat State Petroleum Corporation (GSPC), and others this month have not been awarded, highlighting a shortage of fuel available for immediate delivery. Thailand's national oil company, PTT, initially planned to purchase shipments from late March to early April, but only managed to secure batches for delivery in April. While some importers have successfully secured liquefied natural gas deliveries for March, prices for these transactions have remained high. According to an official from Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), the country urgently purchased two shipments this month: one at a price of around $28 per million British thermal units, which is about 2.5 times higher than the January price, and another close to $23 per million British thermal units. The official stated that this was to mitigate the risk of an energy crisis in the country. Amid tight supply, Southeast Asia is expected to experience high temperatures in the coming months, leading to a further increase in energy demand. Asian buyers will have to continue competing with Europe and regional counterparts for limited natural gas resources. As the Middle East conflict continues to disrupt the energy market, global liquefied natural gas prices have surged. Following the surge in oil prices, European natural gas prices jumped by 30% during Monday's trading session, closing with a 6% increase. Since the outbreak of hostilities on February 28th, Asian liquefied natural gas prices have more than doubled, with traders generally expecting prices to remain at high levels for the duration of the conflict.