Chevron Australia executive: Asian LNG prices to stay elevated for the next six months

Balaji Krishnamurthy, Managing Director of Chevron Australia, told Bloomberg TV on the sidelines of the Gastech conference in Bangkok on Monday, September 14, 2026 (23 Shahrivar 1405), that he has "a hard time seeing" liquefied natural gas (LNG) prices come down over roughly the next six months. He said Australian LNG is now trading at a premium in the Asian market.

The Asian LNG spot price for October delivery hit $26.00 per million British thermal units last Friday, the highest level since December 2022. The jump follows continued disruption to LNG flows through the Strait of Hormuz; some cargoes from Qatar and the UAE have been trans-shipped outside the strait, but the volume is not enough to meet winter demand in Asia and Europe. Chevron's Gorgon and Wheatstone projects together account for about 5 percent of global LNG supply.