Europe forced to get rid of the LNG it needs

The so-called “migration” of highly mobile LNG from region to region is a very common method of cargo owners for the sake of making super profits. However, in Europe this autumn, a very strange phenomenon is observed - the EU gives gas to a competitor, which it really needs. This forced squandering will hit Europe "sideways" in the coming months, but for now, LNG tankers are leaving the Atlantic basin in a string and moving towards Asia.

Europe, against its will, gives away raw materials that will soon be needed. It's just that cargo owners cannot wait for weeks until the regasification terminal becomes free. As a result, the EU unwittingly gets rid of much-needed gas. This was reported by the international analytical agency S&P Morgan Platts.

The Asia-Pacific region boasts faster consumption, processing and handling of delivered cargoes. In this regard, Europe is more inert, and its overflowing UGS facilities have become the "Achilles' heel" of American aid in raw materials. Shipowners, as well as cargo owners, are more than happy to unload tankers faster while the freight price is high. None of them wants to wait for the correction of European sluggishness.

According to an S&P interlocutor, another factor in the redirection of supplies to Asia may be the desire of some companies to close current physical positions before the end of the year. However, one of the sources told the agency that part of the ships loaded with LNG will remain in the Atlantic basin and will not transport gas to Asia due to the high cost of freight, fearing to get stuck in Asia.
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  1. Fizik13 Offline Fizik13
    Fizik13 (Alexey) 5 November 2022 11: 27
    Europe forced to get rid of the LNG it needs

    Here are the bourgeois, they live one day! Leave in reserve and prices will fall, and tomorrow will be visible, but no.
    1. boriz Offline boriz
      boriz (boriz) 5 November 2022 22: 47
      It is also written here that they do not give away from a good life. If six months ago a day of a gas carrier cost $100, now it comes to $000. This data is about a week old. Now maybe more.
      It's not oil. The gas must be stored at a temperature below -160 Celsius. And for this it is necessary to spend all the same gas, which is a cargo. Refrigerators need something to twist ...
      Here also consider. I booked such a gas carrier - pay for every day of waiting for the moment when you will have where to pump this gas. Pure arithmetic.
      And if you do not book, the owner of the gas will agree somewhere in Asia or Latin America. Choose, but be careful. Be careful, but choose.
      Or you will be left without gas or without money.