Europe, Asia gas buyers switching to long-term supplies to beat volatile prices

By Florence Tan and Joyce Lee DAEGU, South Korea (Reuters) – Natural gas buyers in Asia and Europe are seeking to lock in supplies via long-term contracts as a buffer against volatile global prices, industry executives said, in moves that will reverse the last decade’s trend of increasing spot purchases. Fears of disruptions in Russian gas to Europe and low inventories led the continent to import record volumes of spot liquefied natural gas (LNG), driving prices to all-time highs earlier this year and sparking energy security concerns among buyers globally. Years of low investments mean new su…

Read More