Asia and South America Suck Up LNG Flows at Europe’s Expense
- LNG deliveries to Europe drop as others willing to pay more
- Shipments to South and Central America jump to record in July
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Liquefied natural gas shipments to Asia and South America surged in July, with buyers willing to pay higher prices than European importers amid strong demand.
Asian imports rose 16% in July from a year earlier and shipments to South and Central America nearly doubled to a record high, ship-tracking data compiled by Bloomberg show. European purchases fell to the least since January. Global LNG exports -- mainly from Australia, Qatar and the U.S. -- jumped 12%.