# PETRONAS Chief Warns Surging LNG Prices Are Cutting Asian Demand With JKM at $31.37/MMBtu

> PETRONAS's chief executive warned that high spot LNG prices are cutting Asian buyer demand and could oversupply the market once Strait of Hormuz flows return. JKM stood at $31.37/MMBtu on November 13, and TTF was at €86.73/MWh on November 12.

- Date: 2026-11-13 · published 2026-11-13T06:10:00.321Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/97212-petronas-chief-warns-surging-lng-prices-are-cutting-asian-demand-with-jkm-at-31
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Demand destruction at high LNG prices can shift gas-to-power and fertilizer demand in Asia. A later oversupply would pull prices down, which affects energy input costs for feed producers.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-10-08 | [Asia LNG price soars on China power crunch, European demand](https://feedsoft.ai/events/44764-asia-lng-price-soars-on-china-power-crunch-european-demand.md) | +1.9% | +0.5% |
| NATGAS | 2021-07-12 | [Supply struggles, not just demand, are fuelling LNG's price surge: Russell \| Reuters](https://feedsoft.ai/events/46252-supply-struggles-not-just-demand-are-fuelling-lng-s-price-surge-russell-reuters.md) | -0.1% | +13.1% |
| NATGAS | 2023-09-29 | [GLOBAL LNG-Asia spot prices hit 7-month high on rising demand, Europe supply worries](https://feedsoft.ai/events/34284-global-lng-asia-spot-prices-hit-7-month-high-on-rising-demand-europe-supply.md) | +7.0% | +6.9% |
| NATGAS | 2021-09-30 | [Asian LNG spot price reaches record high of $34.47/mmbtu - Platts data](https://feedsoft.ai/events/45220-asian-lng-spot-price-reaches-record-high-of-34-47-mmbtu-platts-data.md) | +4.2% | +8.1% |
| NATGAS | 2025-04-28 | [Supply Disruptions Not Enough to Lift Global Natural Gas Prices as Asian Demand Remains Weak — LNG Recap](https://feedsoft.ai/events/25298-supply-disruptions-not-enough-to-lift-global-natural-gas-prices-as-asian-demand.md) | +18.9% | +10.8% |

## Sources

- energyreader.io: https://energyreader.io/brief/18972

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.