According to a report released on October 5, BMI raised its 2026 full-year Asian JKM LNG spot price forecast from $12.5 per million British thermal units to $15.5. The agency's analysts said in the report that the price forecast for 2027 has been raised and adjusted from the previous 8 US dollars/million British thermal units to 10 US dollars/million British thermal units. This price increase reflects longer-than-expected supply disruptions and greater spillover effects in 2027. According to its core view, BMI expects air flow in Qatar and the UAE to return to normal in the fourth quarter of 2026 and the first quarter of 2027. “However, the initial Hormuz agreement is likely to fall short of expectations at the beginning of this summer, causing price risk to be biased upward while climate risk in the Gulf region is biased downward.” The analyst pointed out. BMI predicts that the average TTF gas price in the Netherlands will average 44.0 euros per megawatt-hour in 2026 and 36.0 euros in 2027, but the overall risk is still clearly trending upward.

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