European LNG Market Needs U.S. for Spot Cargoes, Eneco Says
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Liquefied natural gas traders in northwest Europe won’t buy many short-term cargoes of the fuel until U.S. export projects boost supply and end the deferral of cargoes to Asia, according to Eneco Holding NV’s trading unit.
At least six U.S. terminals need to start operating by 2018 to 2020 to increase shipments to Europe, according to Frens Geuzinge, head of gas structuring and origination at Eneco Energy Trade. The Rotterdam-based company hasn’t bought a spot cargo this year after contracting one in 2012, he said.