By Joseph Branch in Economics News —

Asian companies are already preparing for the winter heating season - gas prices may continue to rise

Asian companies are already preparing for the winter heating season - gas prices may continue to rise
Photo by Julian Yu / Unsplash

India's Gujarat State Petroleum Corp. this month bought LNG cargoes at a 20% premium to summer prices. Spot prices for LNG today are three times higher than the 5-year average.

According to expert Bernstein, LNG spot prices may rise by another 50% by the end of the year. The reason is an increase in demand from Europe and China.