LNG ships are still avoiding transit in the Red Sea via the Bab el-Mandeb Strait to Europe or Asia and instead diverting around Africa’s Cape of Good Hope to avoid attacks from Yemen-based Houthis militants.

However, global liquefied natural gas buyers have yet to show signs that added shipping costs and delivery delays are impacting supply or prices. Europe in particular has a healthy inventory of gas because of pipeline imports from Norway and a steady stream of U.S deliveries.

Poten & Partners’s Jason Feer, global head of business intelligence, said LNG buyers have been insulated from price shocks because of abundant storage and mild temperatures in the northern hemisphere. The Dutch Title Transfer Facility and North Asia LNG prices have been floating near the low- to...