LNG Traders Choose to Pay Rather Than Shipping to Germany
- German terminal operator says some traders diverting to Asia
- US exports are seen more profitable to Asia than Europe
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Some liquefied natural gas traders are opting to pay fees for supplies they initially intended to send to Germany in order to chase higher profits in Asia, according to the nation’s state-owned terminal operator.
“There are two, three cargoes that have not come recently, where you can see traders saying, ‘Oh, I’ll pay the fee for the terminal, but I’d rather go to Asia,’” said Peter Röttgen, managing director of Deutsche Energy Terminal GmbH. Demand for the ultra-chilled gas has jumped in the region ahead of winter.