JERA CEO Warns LNG Prices Will Climb Amid Qatar Supply Halt

### Money Play - Energy markets face acute winter supply friction as liquefied natural gas shipments encounter prolonged blockades in the Strait of Hormuz.

## Catalyst Analysis: Global LNG Supply Constraints JERA’s leadership indicated that shipping hurdles affecting Qatari supply are unlikely to resolve in the near term. State-owned QatarEnergy extended force majeure on deliveries through the end of November due to blocked cargo traffic via the Strait of Hormuz amid ongoing geopolitical conflicts. This shortfall has driven Asian spot LNG and European benchmark natural gas prices to their highest levels since the 2022-2023 energy crisis.

Furthermore, the scheduled European Union ban on Russian LNG in January 2027 adds structural support to higher long-term price expectations. According to Gas Infrastructure Europe data, EU gas storage sites stood at 71% full as of October 1, compared to the five-year seasonal average of 86%. Major economies such as Germany report even lower storage levels at approximately 58%, heightening supply security risks for the upcoming winter season.

## Technical Analysis & Key Risk Watch

## Impact on Energy Importers and Alternatives Price-sensitive buyers across Asia are actively shifting toward alternative energy sources, including coal generation and accelerated renewable energy targets, to mitigate high import bills. European utilities remain vulnerable to temperature fluctuations as lower-than-average filling inventories leave little margin for error should winter weather turn severe.