Europe loses its grip as LNG cargoes chase higher prices in Asia in Freight News 30/03/2026 Europe is losing LNG shipments to Asia as the war in the Middle East impacting Qatari facilities pushes prices higher. Italy, Poland and Belgium scramble for alternative supplies in mega competitive market. Europe is being edged out of the global liquified natural gas (LNG) market as Asian buyers outbid for limited cargoes, with ship-tracking data showing several tankers changing course mid-voyage and close to a dozen Atlantic shipments being redirected. The race for LNG intensifies as the Strait of Hormuz, a vital energy trade point responsible for roughly 20% of global LNG supply, remains hostage to the Iranians authorities in retaliation for missile attacks from the United States and Israel nearly one month ago. Supply disruptions have intensified after strikes on Qatar’s Ras Laffan facility, the world’s largest LNG producer, forced the Qatari energy producer to declare force majeure on Tuesday for contracts with Belgium, Italy and Poland. While Europe accounts for a small share of supply from the energy chokepoint and is mostly trying to cope with price spikes and mitigate LNG supply in a few countries, Asian countries get 80% of their energy supply from Hormuz, with Taiwan, a key chip manufacturer, reporting on Tuesday that it has gas supplies for another 11 days. Since the outbreak of the Middle East war on February 28, the number of diverted LNG tankers has continued to grow, with the last Qatari cargoes expected to arrive in the UK and Italy by 27 March, according to data from the intelligence firm Kpler. “We have 11 LNG cargoes that have been confirmed as diverted from Europe to Asia, plus two that have been diverted from Europe to Egypt and one from Europe to Turkey,” Laura Page, Insight manager LNG & Natural Gas at Kpler, told Euronews. The escalation has pushed global LNG prices higher amid concerns about the tighter supply of all LNG moving across the Atlantic, coming at a critical moment as Europe begins its gas storage refill season. “Thankfully, we are heading out of the winter heating season now, so gas demand will be falling, but the crisis poses major risks for Europe during this upcoming restocking season and could challenge Europe next winter if storage levels don’t get up to sufficient levels,” Page said. The Dutch TTF natural gas benchmark — Europe’s key wholesale price — settled near €53–€54 per megawatt‑hour (MWh) on Tuesday, having spiked above €60 earlier in the day. While slightly lower than mid‑week highs, prices remain far above pre‑conflict levels. Asian buyers are currently paying about $1–$3/MMBtu — prices measured by the JKM benchmark — more than their European counterparts for spot LNG — a relatively small but significant premium that is shaping trade patterns. The higher returns are prompting traders to divert flexible cargoes eastward, where shipping costs are more attractive, while Europe continues to vie for the limited LNG supply. Italy and Belgium seek alternatives Italy’s prime minister, Giorgia Meloni, is visiting Algeria on Wednesday as Rome scrambles to replace gas supplies disrupted by Qatar, which accounts for 30% of the country’s annual gas needs. A study published on Tuesday by the environmental think tank ECCO posits that Italy could replace Qatari LNG with renewables and energy efficiency within a year. The installation of 10 gigawatts of new renewable capacity per year would reduce gas consumpti