Panama logjam could benefit Europe as US LNG cargoes avoid Asia
The congestion at Panama Canal could be to Europe’s benefit as US liquefied natural gas supplies will largely bypass Asia.
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The congestion at Panama Canal could be to Europe’s benefit as US liquefied natural gas supplies will largely bypass Asia.
The Panama Canal is a vital shipping route for LNG supplies from the US — the world’s top exporter — to north Asian nations such as Japan, Korea and China.
Asian spot liquefied natural gas prices were little changed this week, slipping slightly from the previous week, as demand was weak and inventories remained high in both Northeast Asia and Europe. ... -November 24, 2023 at 06:26 am EST - MarketScreener
The congestion at Panama Canal could be to Europe's benefit.
The average LNG price for November delivery into north-east Asia rose 7.4% to $14.5 per million British thermal units (mmBtu), industry sources estimated.