LNG prices to stay high for few years: Woodside

Australia’s top independent natural gas producer, Woodside Energy Group, says that liquefied natural gas (LNG) prices will stay high for a few years as the market adjusts to supply disruptions after sanctions on Russia for its Ukraine invasion.

According to the Australian company, the global LNG market was already tight before the invasion because of underinvestment in the past five years.

Woodside expects that gas prices tend to move higher during summer and winter while oil prices are quite stable throughout the year.