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.
UBS analyst Tom Allen said Europe could lose seven billion cubic metres of gas supply by March 2023 due to the shutdown of the pipeline to Germany and an interruption of Russian gas supply via Ukraine….