Europe

The outlook for liquefied natural gas (LNG) is growing dimmer as prices across the world have fallen by double-digits this year and the Covid-19 pandemic continues to ravage demand in markets already awash in supplies, suggesting production shut-ins are practically guaranteed in multiple countries.

Global natural gas prices continued their freefall as the week got underway, hitting new lows in both Asia and Europe as the coronavirus outbreak has destroyed demand and left the market awash in supplies.

Global natural gas prices continued their freefall as the week got underway, hitting new lows in both Asia and Europe as the coronavirus outbreak has destroyed demand and left the market awash in supplies.

Vitol Inc. CEO Russell Hardy said Friday the Swiss commodities giant expects liquefied natural gas (LNG) to account for a growing share of revenue, as delivered volumes rose 35% to 10.5 million metric tons (mmt) in 2019.

European natural gas storage inventories are at record highs as shoulder season nears, the Energy Information Administration (EIA) noted Tuesday, a factor that could eventually limit the continent’s ability to absorb liquefied natural gas (LNG) imports as it faces more immediate demand threats from the coronavirus.

Feed gas deliveries to U.S. liquefied natural gas (LNG) export terminals bounced back over the weekend, surpassing 9 Bcf/d and hitting their highest point in weeks.

A weak economic outlook and waning demand brought on by extreme efforts to halt the spread of the coronavirus across the continent have caused natural gas prices to spiral in Europe, a major destination for U.S. liquefied natural gas (LNG).

Drastic measures being taken by governments in Europe to stop the spread of the coronavirus are likely to impact natural gas consumption on the continent, which has been a major destination for liquefied natural gas (LNG) supplies, particularly those exported from the United States.

The coronavirus has upended the global liquefied natural gas (LNG) market, driving up freight rate volatility as an increasing number of cargoes are floating throughout Asia while others are being diverted.