May. 2 at 1:42 PM
$VG While Asia and Europe scramble for natural gas, the US glut has nowhere to go https://www.reuters.com/business/energy/while-asia-europe-scramble-natural-gas-us-glut-has-nowhere-go-2026-05-01/
Since the war with Iran began on February 28, gas futures at the U.S. Henry Hub benchmark in Louisiana have dropped by as much as 12% to a 17-month low of
$2.52 per million British thermal units (mmBtu), while prices around the world have soared by as much as 84% in Europe and 108% in Asia , to around
$21 to
$22 per mmBtu.
To replace gas deliveries canceled by Qatar, energy firms around the world have purchased additional cargoes from U.S. LNG producers such as Venture Global, the nation's second-biggest LNG company behind Cheniere Energy. "Venture Global is (relatively) new to the LNG game and had spot cargoes available to put out to the highest bidder," said Bob Yawger, director of energy futures at Mizuho.
