Tracking LNG flows as key global gas prices go haywire - Reuters
Tracking LNG flows as key global gas prices go haywire Reuters
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<a href="https://news.google.com/rss/articles/CBMimwFBVV95cUxNdWpmbDdyeDJ6cjFDWUdRWmVyX0c1cDgxdUN6d2dMNlUxVXJPU3VzUVdaZ19TQTlNLV9FaWhWSU5Vc1hoZVJDdjg1d3JHeFJ0aFd6a19CTzRUUjZjbDhBWXIwQVhtLUlnZmJBU2Jha0FPeHhTSW1OQ2piSlhvQ3BkMWhsTnlFN29nOFhsSmdkUHlid2kwUVlyYWdzOA?oc=5" target="_blank">Tracking LNG flows as key global gas prices go haywire</a> <font color="#6f6f6f">Reuters</font>
Natural gas prices in Europe and Asia have risen by 50% from the previous year. Panicked buyers are now looking for replacement cargoes. Gas prices are likely to remain high for some time due to a lack of vessels and spare liquefaction capacities. However, despite this, the major LNG exporters are redirecting shipments to desperate buyers in Asia and Europe, fueled by the potential for huge profits created by the rising gas prices.
U.S. natural gas futures moved higher as geopolitical developments in the Middle East disrupted global LNG flows. The biggest trigger was the shutdown of Qatar’s Ras Laffan liquefaction complex after a drone attack, which removed a large portion of global export capacity from the market. Qatar is the world’s second-largest LNG exporter. The halt forced buyers in Europe and Asia to reconsider supply availability and replacement cargo risk. As a result, global gas benchmarks surged and volatility increased across energy markets.
Natural gas prices in Europe and Asia have risen by 50% from the previous year. Panicked buyers are now looking for replacement cargoes. Gas prices are likely to remain high for some time due to a lack of vessels and spare liquefaction capacities. However, despite this, the major LNG exporters are redirecting shipments to desperate buyers in Asia and Europe, fueled by the potential for huge profits created by the rising gas prices.
The report provides an overview of global gas and LNG markets, including key global prices and market trends as of April 22, 2024.
The report provides an overview of global gas and LNG markets, including key global prices and market trends as of October 9, 2024.
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