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European Gas Surge Increases Draw of U.S. Cargoes Away From Asia

From bnnbloomberg.ca

Higher natural gas prices and lower shipping rates are increasing the draw of U.S. liquefied natural gas cargoes to Europe over more traditional winter markets in Asia. As of Thursday afternoon, there were 41 U.S. LNG cargoes with either declared destinations in Europe or on a likely path to the natural gas-starved continent, compared with 24 heading to Asia, ship-tracking data compiled by Bloomberg show. The difference of 17 cargoes is the widest so far this winter, which has been marked by volatile gas prices in Europe, where storage inventories are low and major supplier Russia has not delivered as promised. Last ... (full story)

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  • Category: Fundamental Analysis