An unprecedented number of LNG vessels are floating offshore Europe as regasification terminal congestion and whipsawing prices further complicate the supply situation.

At least 22 ships loaded with liquefied natural gas had been moored on Wednesday for more than five days around European regasification hubs, according to data from Kpler. The majority of the ships were centered around the Mediterranean Sea (11) and the Spanish province of Cádiz (6).

Kpler’s Charles Costerousse said the analytics firm had not seen this many LNG vessels floating around Europe since it began collecting data in 2018.

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“Bottlenecks at European terminals can happen, but it is...