In a statement to Reuters, it was stated that Algeria will supply 4 billion cubic meters (bcm) of gas to Italy this year, in addition to the 21 billion cubic meters planned earlier this year.

The source said that state oil producer Sonatrach plans to start increasing supplies to Italian customers, including Eni, next week. Tighter global energy markets have increased demand for Algerian gas.

Sonatrach is already an important gas supplier to countries including Italy, Spain and Portugal, and stated that it is reviewing gas prices with all its customers to take advantage of the appropriate market.

Algeria to Provide Italy with Additional Gas Official Source Says | Devamı>>>

Asia liquefied natural gas (LNG) spot prices hit a record high of more than $59 per million British thermal units (mmBtu), tracking a surge in European gas prices on concern over tight supply after Russia’s invasion of Ukraine.

Price agency S&P Global Commodity Insights‘ Japan-Korea-Marker (JKM), which is widely used as a spot benchmark in the region, climbed to $59.672 per mmBtu on Thursday, data showed.

Its previous record was set in October 2021 when it hit $56.326/MMBtu.

Asia LNG Spot Prices Hit Record High, S&P Data Shows | Devamı>>>