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Asiaâs LNG demand upends global gas pricing models By Anna Shiryaevskaya on 3/14/2021
LNG carrier loadout
(Bloomberg) Asiaâs emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localized commodity that was simply linked to the price of oil.
The change was highlighted this winter, when freezing temperatures in the northern hemisphere meant liquefied natural gas tankers went to Asia, the biggest consumer of the fuel and where sellers could get record-high rates. That pushed up market levels in Europe and, conversely, is now acting as a price brake as winter ends and LNG supplies return to the region.
Despite numerous pipeline-supply options, Europe is becoming more import-dependent.
(Bloomberg) Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in Europe for a once-localized commodity that was simply linked to the price of oil.
The change was highlighted this winter, when freezing temperatures in the northern hemisphere meant liquefied natural gas tankers went to Asia, the biggest consumer of the fuel and where sellers could get record-high rates. That pushed up market levels in Europe and, conversely, is now acting as a price brake as winter ends and LNG supplies return to the region.