Flood of Discounted LNG Stretches Europe’s Gas Terminals
- LNG is offered to Europe at record discounts to win business
- That’s keeping a lid on prices amid fears over Russian cut-off
Suppliers are offering LNG cargoes to Europe at a discount of $6 to $8 per million British thermal units.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Europe’s liquefied natural gas terminals are running at full throttle as a record amount of discounted supplies arrive, easing fears about a shut-off in Russian flows.
The European Union is pushing to slash Russian gas imports in favor of more LNG, but the increase in such imports is stretching the ability of the region’s infrastructure to handle the volumes until more facilities are built. LNG imports hit record-high levels this month in key northwest European markets, ship-tracking and port data show.