American LNG Producers Intend to Fill European Market
OREANDA-NEWS. Producers of liquefied natural gas (LNG) from the United States are preparing to export fuel to European countries amid recovery in gas prices. This was reported by the newspaper Kommersant.
As of October 12, the price of gas at TTF, the largest gas hub in Europe reached 186.3 US dollars per 1 thousand cubic meters, futures for November exceeded 187 dollars; this is the highest figure since the beginning of December of the last year.
According to the publication, quotations in Western Europe are changing depending on the supply of LNG, which has dropped significantly this summer and is now well below the level of 2019. The rise in prices allows American producers to offset the costs of liquefying and shipping LNG to Europe.
Analysts believe that if gas prices in Europe do not fall, the loading of American LNG plants will return to pre-crisis levels in November.