The LNG market is expected to be "very, very tight" this winter, particularly if gas storage levels in Europe decline. This tightening increases the likelihood that further supply shocks will push costs toward the threshold where consumers abandon the fuel for alternatives.
Tuesday, October 20, 2026
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Petronas CEO Warns $40 to $50 LNG Prices Risk Global Market Bloodbath
Commodities15 days ago
Current liquefied natural gas buyers are absorbing costs of $25 to $28 per million British thermal units (MMBtu) despite supply disruptions from conflicts in the Middle East. Tengku Muhammad Taufik of Petronas warned during the Energy Intelligence Forum in London on Monday that prices reaching $40 to $50 per MMBtu could force customers to switch energy sources and trigger a "bloodbath" in global markets. Taufik stated that such a price spike would risk destroying demand for the super-chilled fuel on a global scale.
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