MOSCOW, October 27. /TASS/. International spot gas prices surged twofold since February due to the drop in liquefied natural gas (LNG) imports in Europe and Asia, Secretary General of the Gas Exporting Countries Forum (GECF) said.
"LNG imports in major Asian and European markets have declined, spot prices have more than doubled since February, and pressures on storage, power markets, and consumers have intensified," he said.
The inevitable normalization of LNG supplies together with new gas liquefaction facilities can ease pressure on the market, while longer supply disruptions will have broader implications for energy security and economic stability," the secretary general added.