European thirst for natural gas puts Bangladesh and Pakistan in the dark

TL;DR

The surge in demand followed Russia's invasion of Ukraine, with various European governments rushing to end their dependence on Russian energy as quickly as possible."The way in which Europe has been able to source these volumes is by paying more than other markets are willing to pay for," Alex Munton, an LNG analyst with energy research group Rapidan, told DW.Last week, Bangladesh suffered its worst blackouts in almost a decade with more than 100 million people left without power for several hours.Pakistan is in the midst of a severe energy crisis and last week it emerged that it had failed to attract a single bid from suppliers for a tender to supply one cargo of LNG per month for between four and six years.Suppliers have chosen to divert some LNG to markets where prices are highest"You've got a huge disconnect and a huge opportunity if you're a trading company, to say, 'well, we did have a sales contract into Pakistan and we were going to get maybe a price that was linked to the price of oil ... but we can pay a break clause and route it into Europe'," Munton explains."

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