Despite the sanctions upon sanctions placed on Russia by European and western-aligned nations, Russia’s LNG exports to Europe have hit new records. While gas pipeline supply has been largely cut off and oil languishes under a US$60/bbl price cap, LNG out of Russia continues to grow stronger than ever as Europe’s need for fuel circumvents the political arena.

AME’s Asian Composite LNG price forecast for the September quarter is US$38/MMBtu. Prices for LNG jumped 48% in mid-June after a fire at Freeport LNG and have continued to a steady climb as gas supplies to Europe dwindle, with the AME Asian Composite LNG averaging US$39.4 in July.

AME is modelling a slightly quieter resources pricing environment as actual commercial risk, and importantly, the permanent perception of risk is fast changing due to a plethora of structural changes.

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