ANALYSIS-Europe facing costly winter without enough long-term LNG deals | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Europe has not made enough progress in locking in long-term contracts for liquefied natural gas (LNG) as an alternative to Russian pipeline supply, which may prove costly next winter as a rebound in Chinese demand could sharply tighten the market.
Europe made the majority of purchases on the spot market, where prices are far higher than those agreed upon in long-term contracts preferred by seasoned purchasers like China. The International Energy Agency estimates that the cost of its LNG imports will more than treble to almost $190 billion in 2022.
Europe has not made enough progress in locking in long-term contracts for liquefied natural gas (LNG) as an alternative to Russian pipeline supply, which may prove costly next winter as a rebound in Chinese demand could sharply tighten the market.
Europe has not made enough progress in locking in long-term contracts for liquefied natural gas as an alternative to Russian pipeline supply, which may prove costly next winter as a rebound in. | April 6, 2023