Europe Outbids Asia for LNG as Prices Surge 150%
4 Articles
4 Articles
Industry executives and analysts have forecast a significant increase in global liquefied natural gas (LNG) prices this coming winter due to a decline in European gas storage.
Europe is heading towards the winter with unusually weak gas storages and now has to fight for liquefied natural gas on the world market. While Asian buyers are retreating from the extremely high spot prices, Europe is attracting sought-after LNG charges with higher prices. Since February, liquefied natural gas has increased by around 150 percent on the Asian spot market. Brussels' promise of a secure and resilient energy supply thus meets a wor…
Europe Outbids Asia for LNG as Prices Surge 150%
Liquefied natural gas prices on the spot market are moving higher as demand picks up seasonally and Asian importers are souring on the fuel. European buyers are stepping up purchases, however, despite the price. They have no choice. Asian demand for liquefied gas is set to decline this month—and over the year—according to analysts. September flows of LNG into Asian countries are estimated at 20.09 million tons by Kpler, which would be down from …
Industry executives and analysts have forecast a significant increase in global liquefied natural gas (LNG) prices this coming winter due to a decline in European gas storage.
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