Europe's plan to quit Russian natural gas is setting up a global fight for LNG 🇪🇺🥊
The EU aims to boost LNG imports by as much as 37 million tons this year (!), far outstripping supply
Asia and Europe will battle for spare LNG cargoes like never before
bloomberg.com/news/articles/…
The EU aims to boost LNG imports by as much as 37 million tons this year (!), far outstripping supply
Asia and Europe will battle for spare LNG cargoes like never before
bloomberg.com/news/articles/…
So what does this mean? Higher spot prices for longer
“Europe will need to bid these cargoes away from Asia,” said Nikos Tsafos of CSIS. “But what does a bidding war look like when spot prices are already above $50? I have no idea.”
“Europe will need to bid these cargoes away from Asia,” said Nikos Tsafos of CSIS. “But what does a bidding war look like when spot prices are already above $50? I have no idea.”
To be sure, Europe's plan to quit Russian natural gas is full of obstacles
Its import terminals are working near max-capacity, and it will require additional FSRUs to take a large jump in deliveries
bloomberg.com/news/articles/…
Its import terminals are working near max-capacity, and it will require additional FSRUs to take a large jump in deliveries
bloomberg.com/news/articles/…
Europe’s plan to boost LNG imports will come at the cost of demand destruction in the emerging world
The biggest losers are poised to be nations in South Asia, like Pakistan & Bangladesh, which are much more price sensitive and are unable to procure spot supply at current rates
The biggest losers are poised to be nations in South Asia, like Pakistan & Bangladesh, which are much more price sensitive and are unable to procure spot supply at current rates
What LNG can and can’t do to replace Europe’s imports of gas
A nice Q&A from @SergioChapa
bloomberg.com/news/articles/…
A nice Q&A from @SergioChapa
bloomberg.com/news/articles/…
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