Europe’s Rising Demand For Gas Provides Gains For Australian LNG Exporters

LNG gas storage tanks are shown at the Woodside operated North West Shelf Gas Venture in the north of Western Australia, on June 17, 2008. Greg Wood/AFP via Getty Images

Australian gas exporters are expected to benefit from high gas prices caused by the intensifying war in Ukraine and a drop in Russia’s gas exports to Europe following the recent destruction of the Nord Stream pipelines.

Multinational investment bank UBS has raised its forecast for the prices of Australian liquefied natural gas (LNG) in the Asian market by 40 percent and 50 percent for the European market.