European buyers triggered a 150% surge in spot liquefied natural gas prices by outbidding Asian importers to secure supplies before winter. Meanwhile, a drone strike damaged an installation at the Moscow Refinery as air defences intercepted 338 unmanned aerial vehicles approaching the Russian capital.
Global market
Spot liquefied natural gas (LNG) prices surged 150% as European buyers aggressively outbid Asian importers to replenish gas storage facilities, Reuters reported. Kpler estimates Asian LNG imports in September will fall to 20.09 million tons, down from 22.27 million tons a year earlier. Meanwhile, Abu Dhabi’s ADNOC investment arm XRG is evaluating a $3 billion acquisition of a 50% stake in Energos Infrastructure. In maritime transport, global shipowners ordered more Very Large Crude Carriers (VLCCs) in 2026 than in any equivalent period over the last 25 years. Additionally, China increased its imports of Russian LNG by 28.2% to 5.15 million tons during the first eight months of 2026, according to the General Administration of Customs of China.
Russia & CIS
A drone strike damaged a facility at the Moscow Refinery, Moscow Mayor Sergey Sobyanin reported, adding that air defence forces intercepted 338 drones on approach to the capital with no casualties recorded. In energy policy discussions, German Bundestag lawmaker Steffen Kotré from the Alternative for Germany (AfD) party criticized Berlin’s decision to cut off crude oil imports via the Druzhba pipeline, arguing that sanctions severely restricted Germany’s energy capabilities. Across the Channel, the UK National Energy System Operator (NESO) announced that Britain faces a £150 billion electricity grid overhaul by the end of the decade to connect expanding renewable energy projects and meet growing power demand.
Armenia
China’s 28.2% expansion in Russian LNG imports and the 150% spike in European spot gas prices reshape regional energy flows across Eurasia. Infrastructure damage at the Moscow Refinery and intense European bidding wars for LNG cargos heighten cost uncertainties for South Caucasus energy importers. Nevertheless, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Domestic energy security is reinforced by long-term supply agreements under the EAEU, which shield consumers from market turbulence recorded by international market price assessments.