Europe Gas Glut to Help Ease Winter LNG Crunch in Asia
- Traders look to reroute LNG to Asia due to better prices
- Europe is facing a natural gas supply glut ahead of winter
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Europe’s near-term natural gas supply glut means more fuel for Asia this winter.
Liquefied natural gas suppliers are already looking to redirect shipments to Asia for delivery from November onward due to more attractive prices, according to traders with knowledge of the matter. Asia LNG spot prices jumped above the European gas benchmark for the first time since June earlier this week.