GLOBAL LNG — Asian spot LNG prices at highest level in nearly 4 years amid competition with Europe

Hormuz security fears kept a geopolitical premium in gas prices Chinese and South Korean spot buying intensified competition with Europe Morgan Stanley raises EU gas prices winter forecast to €90 per MWh and says could reach €135/MWh By Marwa Rashad LONDON, Oct 16 (Reuters) — Asian spot liquefied natural gas prices rose to their highest level in nearly four years as attacks on vessels near the Strait of Hormuz and escalating competition between Europe and Asia for cargoes kept the global gas market on edge ahead of winter. The average price for December delivery into north-east Asia was estimated at $29.30 per million British thermal units (mmBtu), its highest level since December 23, 2022 and up from $26.50/mmBtu last week. "Persistent risks around the Strait of Hormuz continue to underpin the geopolitical premium embedded in gas prices," said Arturo Regalado, senior LNG analyst at Kpler. Despite an increase in transits via the Strait of Hormuz since September, as well as loadings at Qatar's Ras Laffan facility, continued attacks on tankers and uncertainty over safe passage are keeping prices supported, he said. "With the disruption likely to persist into winter, competition for f