World Business Report Shockwaves hit energy market as gas price soars
Mar 19, 2026
Seida Bo Seiji, a Korean studies professor, on BTS’s cultural return and fan-driven economic buzz. Walter Todd, an investment chief, on equity swings and rate pressures from energy shocks. Umo Eno, Akwa Ibom governor, on port plans and attracting energy investment. Ross Wayno, LNG analyst, on supply disruptions, cargo diversions and long repair timelines that tighten markets.
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Major LNG Hub Damage Tightens Global Supply
- Coordinated strikes on Qatar's Ras Laffan and Iran's South Pars removed ~17% of global LNG exports, tightening supply and forcing cargoes to re-route from the Atlantic Basin to Asia-Pacific.
- Ross Wayno warns damaged liquefaction trains at Ras Laffan may take years to repair, keeping markets structurally tighter and supporting higher prices long term.
LNG Price Spike And Limited Supply Response
- European and Asian LNG prices surged, with Asian prices near $25/MMBtu and Europe up about 140% since before the war, widening the gap with US gas prices.
- Wayno notes limited upside from other producers because liquefaction plants already run near capacity and deferring maintenance raises outage risk.
Treat Cargo Diversions As Temporary Fixes
- Expect short-term fixes like cargo diversions and modest production increases, but treat them as temporary and risky stopgaps.
- Avoid assuming deferred maintenance is a sustainable solution because it raises risk of unplanned outages, per Ross Wayno.