US LNG Cargoes To Europe Jumped By A Third Over Christmas Weekend - Reports

WASHINGTON (Pakistan Point News / Sputnik - 28th December, 2021) The number of vessels carrying US liquefied natural gas to European ports multiplied by a third over the Christmas weekend as frigid temperatures deepen the continent's energy crisis, data compiled by Bloomberg showed Monday.

Some 20 tankers laden with US LNG were headed for Europe over the weekend, up from 15 on the day before the Christmas Eve holiday, according to the data. Separately, another 14 vessels were headed in the general direction of Europe while awaiting further orders.

European gas prices are about 10 times higher than a year ago due to an acute shortage of heating supplies this winter, despite market corrections over the past four sessions due to reports of some imminent relief coming from the US LNG cargoes.

US dry gas prices, on their own, are on track to finish 2021 up 55%, after rising more than 100% at one point.