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Asian LNG Prices Surge to Three-Year Peak Over Iran Conflict

Sing Yee Ong
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⚡ Quantum Brief
Asian LNG prices hit a three-year high of $25.40 per million British thermal units amid escalating Middle East tensions, more than doubling in a week as supply disruptions intensified. Qatar’s Ras Laffan plant—the world’s largest LNG export facility—halted operations due to regional conflict, removing a critical supply source for Asian markets dependent on Middle Eastern gas. The Strait of Hormuz, a vital shipping chokepoint for 20% of global LNG trade, was blocked, stranding tankers and exacerbating supply shortages across energy-importing nations. Traders warn prices will keep rising until Qatar’s production resumes and Hormuz reopens, with prolonged disruptions threatening energy security and industrial output in Asia. The surge underscores geopolitical risks to global energy flows, as conflicts in key producing regions trigger volatile price spikes and supply chain instability.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:Asian liquefied natural gas soared to the highest level since 2023, as the Middle East conflict forced a shutdown at the world’s largest export plant in Qatar and halted shipping through the Strait of Hormuz.Spot prices reached $25.40 per million British thermal unit in Asia, according to traders, more than double last week. Further upward pressure is expected for as long as Qatar’s output remains suspended and the vital trade route is choked, they added.

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Source: Bloomberg Markets

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