From Hellenic Shipping News, October 4:
Europe exported a record amount of liquefied natural gas (LNG) to Asia in September, data showed on Friday, even as lower supply drove European gas and electricity prices to new highs.
Europe shipped about 0.48 to 0.51 million tonnes of LNG to Asia, mostly South Asian countries, breaking the previous monthly record in February 2018, shiptracking data from Refinitiv Eikon and data intelligence firm Kpler showed.
While it is usual for Europe to re-export LNG cargoes, the higher than usual volumes to Asia come at a time when gas inventories in Europe are lower than usual, which has pushed prices to record highs.
Asia is competing for LNG with Europe to meet an expected rise in winter heating demand, as top buyer China grapples with power shortages.
“The most expensive incremental supply that can be sent eastwards is a European re-exported cargo which includes further costs for re-loading and tank rental,” Oswald Clint, a senior analyst from Bernstein Energy, said in a note....
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