Asia’s biggest economies face paying twice as much for some natural gas

Asia’s biggest economies face paying twice as much for some natural gas as old supply deals are renewed, with a North American shale glut years from helping to meet soaring demand in the region.

Rocketing prices will add billions of dollars to the power bills of Asian nations and threaten competitiveness, but mean an earnings bonanza for LNG producers such as Malaysia’s Petronas, BP and Australia’s Woodside Petroleum.

Japan, South Korea, Taiwan and China bought 70 per cent of g ..

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