Asia ditches LNG for coal after Iran war sends prices soaring

2026-03-17 - 10:53

Asian utilities are boosting coal-fired power generation to cut costs and safeguard energy supply, industry officials say, as the US-Israeli war on Iran chokes liquefied natural gas (LNG) shipments and soaring prices threaten to suppress LNG demand. Asia spot LNG prices have doubled to three-year highs in the second major supply shock in four years, as shipping through the Strait of Hormuz has all but stopped and No 2 global exporter Qatar has halted shipments. In South Asia, Bangladesh is...