The European Union received record volumes of liquefied natural gas (LNG) in January after demand in Asia dropped, European Commissioner for Energy Kadri Simson said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 02nd February, 2022) The European Union received record volumes of liquefied natural gas (LNG) in January after demand in Asia dropped, European Commissioner for Energy Kadri Simson said on Wednesday.
"Indeed, in the end of last year we faced the situation where LNG tankers routed towards Asia, because of the willingness of China to pay significantly higher premiums than European traders were willing to pay, but this January our LNG market witnessed record delivery volumes," Simson told the committee of the European Parliament.
The commissioner noted that despite skyrocketing energy prices, the EU has proved its "resilience and capacity to react to diminishing gas flows from Russia."
"The market reaction in January, with increased imports of LNG, has showed that Europe can count on a diversified and fully functioning gas infrastructure," she added.
The price of European gas futures rose to $2,187 per thousand cubic meters for the first time in history in December after being on the rise for several months. The energy crisis is believed to be driven by increased demand for natural gas globally and heavy dependence on foreign energy deliveries, as well as uncertainty regarding the launch of the Nord Stream 2 pipeline, among other factors.
