We will have problems with liquid natural gas this winter: word of the largest US exporter
Limited global supplies of LNG liquefied natural gas could be "really, really scarce this winter," Cheniere Energy 's executive vice president for world trade told Reuters Thursday.
Cheniere, the largest exporter of LNG to the United States, believes current prices indicate that LNG will continue to make its way to Europe, which has so far bought 70% of Cheniere's total production this year, and not too cheap. market.
"At current prices, the market says LNG should continue to go to Europe," Corey Grindal said in an interview at the Gastech conference on Thursday.
The United States has increased LNG exports to Europe, which continues to grapple with natural gas supply problems after Russia cut off the flow of gas through its Nord Stream pipeline and delayed its planned restart. of Nord Stream 1. LNG prices have reached all-time highs.
LNG prices hit all-time highs last month, when Russia restricted the flow of natural gas to Europe, causing a divergence between the spot price of LNG and the cost of LNG priced relative to oil – and the countries that they rely on the spot market and find it impossible to pay these prices.
Cheniere has already sold around 90% of its LNG production this year through long-term contracts, which will therefore ensure consistent returns over time.
“At the end of the day, what will decide how tight the market will be will be the cold, government policies and industry rationing. There is still a lot to play, ”Grindal said. The climate this winter in China, Europe's rival for LNG purchases, could determine how tight the global market will be and, incidentally, how much LNG Europe has left to grab.
China has already secured several long-term LNG deals with Cheniere, the most recent of which is an agreement between Cheniere and PetroChina to supply 1.8 tons per day until 2050, the longest supply agreement that Cheniere has ever concluded. Meanwhile, Japan has secured liquefied gas from Russia.
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The article We will have problems with liquid natural gas this winter: word of the largest US exporter comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/avremo-problemi-con-il-gas-naturale-liquido-questinverno-parola-di-maggior-esportatore-usa/ on Fri, 09 Sep 2022 11:52:34 +0000.