MET Group CEO Hubert Weiglvino said Europe needs more seaborne long-term LNG contracts to hedge against price spikes after the Middle East war has effectively cut roughly one-fifth of global LNG flows. European gas prices have more than doubled this year as Asian buyers increasingly purchase flexible spot cargoes, raising interregional competition ahead of winter. "Many long-term LNG supplies have gone to Asia while Europe relies more on the spot market — whether that's wise is debatable. If Eur

MET Group CEO Hubert Weiglvino said Europe needs more seaborne long-term LNG contracts to hedge against price spikes after the Middle East war has effectively cut roughly one-fifth of global LNG flows. European gas prices have more than doubled this year as Asian buyers increasingly purchase flexible spot cargoes, raising interregional competition ahead of winter. "Many long-term LNG supplies have gone to Asia while Europe relies more on the spot market — whether that's wise is debatable. If Europe had more long-term contracts, it would certainly have helped this year."