Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on March 13, 2021

Bookmark and Share

Asia thirst for liquefied natural gas is disrupting Europe’s market

Asia thirst for liquefied natural gas is disrupting Europe’s market thumbnail

Asia’s emergence as global natural gas trading superpower will increasingly dictate market rates in for a once-localised commodity that was simply linked to the price of oil.

The change was highlight­ed this winter, when freezing temperatures in the northern hemisphere meant (LNG) tankers went to Asia, the biggest consumer of the fuel and where sellers could get record-high rates. That pushed up market levels in and, conversely, is now acting as a price brake as winter ends and LNG supplies return to the region.

“Over the next couple of years, European gas prices will become less and less Europe-centric, and more and more gl­o­­bally influenced,” said Andy Sommer, team leader for fund­a­mental analysis and modeling at Swiss trader Axpo Solutions AG.

Even with its numerous pipeline-supply options, Euro­pe’s import dependency is rising amid falling domestic production due to aging fields in the North Sea. At the same time, trade in LNG transportable across oceans is expanding faster, driven mainly by demand in

In coming years, will have to compete for LNG with consumers in China, Ind­ia, Pakistan and Bangla­desh. In addition, new markets are yet to open as some Asian nat­ions are just starting to use gas in power generation instead of more polluting coal and fuel oil. By contrast, Europe’s tightening climate targets will lead to more renewables squeezing out gas. “You can compare it to the coal market,” Sommer said. “was always an anchor for European coal prices. The situation is moving into the very same phenomenon in the gas market as well.”

busienss standard



3 Comments on "Asia thirst for liquefied natural gas is disrupting Europe’s market"

  1. makati1 on Sat, 13th Mar 2021 3:30 pm 

    “War Games Showed US Would “Lose Fast” Against China If It Invaded Taiwan: US General”

    https://www.zerohedge.com/geopolitical/war-games-showed-us-would-lose-fast-against-china-if-it-invaded-taiwan-us-general

    Arrogance and lies don’t win wars. That is all Amerika is anymore. Lies and arrogance.

  2. Biden’s hairplug on Sat, 13th Mar 2021 4:00 pm 

    North-Vietnam had 23m people, the US +South-Vietnam could not defeat it.

    China has 50 times as many people as North-Vietnam and is far more advanced.

    The US is like a 90-year old Casanova… he would love to, but can’t.

    The good general is right, China will prevail in East-Asia and the US kicked out.

  3. dissident on Tue, 16th Mar 2021 1:25 am 

    Keep on sabotaging Russian cheap pipeline gas exports you fecking morons. Serves you right.

Leave a Reply

Your email address will not be published. Required fields are marked *