BMI raised its 2026 full-year Asia JKM LNG spot price forecast from $12.5 per million British thermal units to $15.5 per million British thermal units in a report released on October 5. According to Sina Finance, the firm also lifted its 2027 price forecast to $10 per million British thermal units from $8 per million British thermal units.

BMI said the increase reflects supply disruptions lasting longer than expected and a larger spillover effect in 2027. According to Sina Finance, the analysts said Qatar and the United Arab Emirates are expected to see gas flows normalize in the fourth quarter of 2026 and the first quarter of 2027.

However, the analysts said the likelihood of an initial Strait of Hormuz agreement is lower than expected at the start of this summer, leaving price risks tilted to the upside and Gulf gas volume risks tilted to the downside. BMI forecast Dutch TTF gas prices to average 44.0 euros per megawatt hour in 2026 and 36.0 euros per megawatt hour in 2027, while saying overall risks remain clearly skewed to the upside.