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LNG short-term webinar: March 2026
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Report summary
Global commodity prices have surged in March with the Middle East conflict disrupting flows through the Strait of Hormuz. European TTF prices traded around $19/mmbtu, at the top of the coal-to-gas switching curve. Asian LNG prices exhibited a $3 to 4/mmbtu premium over Europe to attract marginal Atlantic cargoes through the Panama Canal and Cape of Good Hope. With Brent above $100/bbl, the cost of importing contractual oil-indexed LNG volumes will also increase for most Asian buyers from June. Closure of Strait of Hormuz, followed by attacks on Ras Laffan leave 2026 supply growth at just 1%, tightening global balance. Asian LNG imports are set to fall 5% year‑on‑year in March, though the full impact of a Hormuz closure will emerge in April due to shipping delays. In this outlook and webinar, we investigate the following topics: 1. Qatari LNG – damage, restart and delays 2. Impact on Asian LNG imports and gas demand 3. Implications for Europe and the global market balance
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