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U.S. LNG Cargoes Flock To Europe Amid Record-High Gas Prices
Ten LNG tankers from the U.S. have already declared Europe as their destination while another 20 cargoes appear to be crossing the Atlantic en route to Europe, the shipping data showed. At least another ten LNG cargoes have been diverted from Asia to Europe as European LNG prices are now much higher than the prices in Asia, industry sources told Reuters earlier this week.

In recent days, natural gas prices in Northwest Europe have jumped to over $57 per million British thermal units (MMBtu), up by nearly one-third from last week. Prices in Europe are now around $24/MMBtu higher than the benchmark LNG price in Asia, per Bloomberg estimates.
According to data from German operator Gascade, cited by Reuters, flows of natural gas from Russia on the Yamal-Europe pipeline via Belarus to Poland and Germany have been falling since the start of the weekend, stopped completely on Tuesday, and then reversed direction from Germany east to Poland.

archived US LNG as Foreign Policy Instrument, spot market, the course Germany has set
by Cat on Thu Dec 23rd, 2021 at 05:34:19 PM EST
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