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By Sergio Chapa (Bloomberg) Higher natural gas prices and lower shipping rates are increasing the draw of U.S. liquefied natural gas cargoes to Europe over more traditional winter markets in.
Record U.S. winter storm deeply impacts global LNG markets By Sergio Chapa and Gerson Freitas Jr. on 2/17/2021
Sempra LNG plant, Texas
(Bloomberg) The Arctic blast that has wreaked havoc on U.S. energy markets is now poised to reverberate internationally as it slows shipments of liquefied natural gas from the Gulf Coast.
Power disruptions at export facilities, closed ship channels and a reduction in the flow of natural gas have held back LNG tankers off the coasts of Texas and Louisiana.
Thatâs just the latest setback for LNG facilities that have endured pandemic-driven demand destruction, canceled cargoes, a hyperactive hurricane season, Panama Canal delays, record shipping costs and dense fog that halted tanker traffic.