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Tankers Going Nowhere Indicate LNG Market Becoming More Like Oil

  • Modern ships able to act as floating storage for the fuel
  • Booming LNG trade, flexible U.S. volumes help transform market
General Images of Refineries and Tankers Off Jurong Island

Some liquefied natural gas sellers aren’t in a rush to deliver their multimillion-dollar cargoes.

With uncertain demand and no signs yet of bitter cold, some traders are preferring to keep their fuel inside vessels in the hope prices will rise. While the sight of stationary cargoes might not be unusual in the more-established oil market, technology has only recently made it feasible to keep LNG at minus 162 degrees Celsius (minus 260 degrees Fahrenheit) for longer periods.