October 22 JKM $30.761… highest since December 2022

Northeast Asian LNG benchmark JKM rose to $30.761 per MMBtu on October 22, its highest level since December 2022, as Qatari and UAE LNG loadings fell by more than 60 billion cubic meters between March and October versus a year earlier. The IEA’s Global Gas Security Review 2026, published November 3, reported that LNG output outside the Gulf rose 14%, or over 40 billion cubic meters, but global LNG production still fell 6%, about 20 billion cubic meters, with non-Gulf gains offsetting only about two-thirds of the Gulf shortfall. The tighter supply matters because it leaves Northeast Asian buyers more exposed to Gulf disruption, and the next signal to watch is whether Qatari and UAE loadings recover enough to close the remaining supply gap.