A Flotilla of U.S. LNG Cargoes Is Headed to Fuel-Starved Europe
- Ten U.S. LNG cargoes have declared European destinations
- Twenty more tankers crossing Atlantic Ocean on path to Europe
An LNG carrier ship docked at the Cheniere Energy Inc. terminal in Sabine Pass, Texas in 2016.
Photographer: Lindsey JaniesThis article is for subscribers only.
Cold-stricken Europe is drawing a flotilla of U.S. liquefied natural gas cargoes amid an energy crisis that has sent gas prices to record levels.
Facing a winter shortage and little relief from the continent’s main supplier Russia, natural gas in Northwest Europe is trading for about $57.54 per million British thermal units, up almost a third from a week earlier. That’s roughly $24 higher than Asian prices and more than 14 times higher than gas being sold on U.S. benchmark Henry Hub.