The worsening energy crisis linked to disruptions around the Gulf and Red Sea is hitting Bangladesh and Pakistan, driving up LNG and fuel costs, disrupting industries and prompting governments to introduce emergency measures.
Asian spot LNG prices have risen toward $30 per million British thermal units (MMBtu) from around $10 before the conflict, as disruptions around the Strait of Hormuz and Red Sea constrain energy flows.
Shell estimates that about 36 million tonnes of LNG have been lost from Middle Eastern supplies this year.
Bangladesh, which generates more than 40% of its electricity from imported LNG, has been forced to seek more expensive spot cargoes following disruptions to supplies from Qatar.
Gas shortages have triggered power cuts and factory shutdowns, with the garment sector among the hardest hit.
