Nov 21, 2022

Leading gas importer Japan says LNG is sold out until 2026, as energy-squeezed countries battle over dwindling supplies

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“The LNG procurement environment has changed completely. Procurement can also be said to be in a state of war,” they told the ministry.

A dwindling supply of natural gas worldwide has sent countries racing to secure shipments of the key fuel. The squeeze is due to a lack of investment in LNG export projects, according to the trade ministry.

At the same time, European buyers are set to step up their imports of LNG from next year after Moscow cut off pipeline-borne gas flows to the continent in retaliation to Western sanctions. They have already been in “huge competition” with Asian buyers for exports from Qatar to replace the Russian supplies.

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