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Don’t Count on LNG to Save Europe From a Winter Gas Crunch

  • LNG supply entering Europe’s grids fell to lowest in 3 years
  • A controversial Russian pipeline could ease supply tightness
Floating LNG Terminal With Fuel Seeing Boom In Demand
Photographer: Petar Santini/Bloomberg
Updated on

Europe’s vast network of liquefied natural gas terminals can’t save it from a winter supply crunch.

LNG supplies entering European grids in July fell to the lowest for that month in three years and the outlook for this month is even grimmer. Just one cargo is scheduled to arrive in the U.K. in August and traders who have the fuel stored in Spain are set to export six cargoes to capture higher prices in Asia.