From OilPrice, December 28:
- 20 tankers with U.S. LNG are traveling to Europe, and another 14 are headed in the same general direction awaiting further orders
- According to analysts, the U.S. cargoes will not make a lasting difference due to volume constraints
- Prices have been on a steady decline even though Gazprom has continued to shun booking export capacity on the Yamal-Europe pipeline for the eighth day in a row
A flotilla of U.S. liquefied natural gas carriers heading for Europe has brought relief to European gas buyers, pushing gas prices considerably lower. According to Bloomberg data, cited by Russia’s Sputnik, LNG cargos traveling from the U.S. to Europe rose by a third over the Christmas weekend.
20 tankers with U.S. LNG are traveling to Europe, and another 14 are headed in the same general direction awaiting further orders as desperate Europe became willing to pay a higher premium than buyers in Asia amid a persistent gas crunch that has seen prices break a series of records and forced some countries to reopen retired coal power plants.
According to analysts, the U.S. cargoes will not make a lasting difference due to volume constraints, yet the very news of the cargoes heading to Europe has already had an effect on European gas prices, especially as it coincided with forecasts of milder weather....
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