Asian Imports of LNG to Increase Despite Rising Costs

Asia's imports of liquefied natural gas are likely to rise to a three-month high in October despite the surge in spot prices to the most in almost four years.

October arrivals in the top-importing region are estimated at 23.31 million metric tons, the strongest since July's 23.38 million, according to data compiled by commodity analysts Kpler.

October will also be the second-highest monthly total since the outbreak of the conflict in the Middle East, which started on February 28 when the US and Israel attacked Iran.

The war resulted in the effective closure of the Strait of Hormuz, meaning Qatar, the world's second-biggest LNG exporter with about a 19% market share, was largely unable to ship cargoes to buyers in Asia and Europe.

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