Global liquefied natural gas price volatility caused by the Middle East crisis is “very short-term”, Mike Sabel, chief executive officer with Venture Global, has told the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo, according to Reuters.

Some 20 per cent of global LNG supply is now offline with QatarEnergy LNG facilities shut. It could take months to return to normal deliveries, Qatari Energy Minister Saad al-Kaabi said last week.

“There’s tremendous volatility in the markets,” Sabel said. “However, we view that it’s very short-term, and we’re tremendously optimistic about the middle- and long-term strength of the market, equity in the market, supply coming online. We expect long-term, very stable liquefaction prices.”