Asian demand for LNG is being hampered by sky-high prices of LNG cargoes due to intensifying competition from Europe, which is working around the clock to reduce its dependence on Russian pipeline gas supply. Europe is now the top destination of record-high U.S. LNG exports, while price-sensitive developing economies in the Asia Pacific are steering clear of the spot market and switching to coal and oil products as the price of LNG is unsustainable for them. The European resolve to cut reliance on Russian energy, starting with gas,…
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