Europe Desperate for LNG While Asia Has Plenty
Buyers are struggling to replenish inventories in Europe.
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Buyers are struggling to replenish inventories in Europe.
Asia’s relentless buying of liquefied natural gas earlier this year has left the region so well stocked for winter that spot shipments are being diverted to energy-hungry Europe.
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NEW DELHI: The global energy shortage has prompted India to ask Qatar, the world’s biggest supplier of liquefied natural gas (LNG), for around 50 cargoes it deemed too expensive six years ago.
If there’s any country that might’ve been in a position to rescue Europe from its energy crisis, it’s the U.S., which is home to vast shale fields holding a seemingly endless supply of natural gas and giant terminals capable of liquefying it and shuttling it abroad.