How LNG shipping kept Europe’s wartime energy supply secure

A year ago, an armada of ships came to Europe’s aid, bringing U.S.-produced liquefied natural gas to replace Russian pipeline gas supplies lost in the wake of the war. The outlook for the coming winter was dire despite the surge of American LNG cargoes — then it grew even worse.

A fire and explosion took Texas’ Freeport LNG facility offline last June, removing a major U.S. export source. The price of natural gas in Europe hit $100 per million British thermal units (MMBtu) in late August, the...

https://www.freightwaves.com/news/how-lng-shipping-kept-wartime-europes-energy-supply-secure

Armada carrying US LNG heads to Europe, but it won’t be enough

LNG shipping

Fallout from Russia’s invasion of Ukraine is being felt across all shipping markets, but none more so than liquefied natural gas shipping. Consequences to this shipping segment have been immediate, sweeping and possibly permanent.

Traditionally, about 30% of U.S. LNG exports has gone to Europe, but the destination mix has dramatically changed. Over the past two months, around 70% of U.S. LNG is going to Europe, according to Evercore ISI analyst Sean Morgan.

Ship-position data from MarineTraffic...

https://www.freightwaves.com/news/armada-carrying-us-lng-heads-to-europe-but-it-wont-be-enough