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Gas Crisis Lands LNG Cargo Market in Hands of Energy Giants

Started by Epoch-Times-Bot, Sep 27, 2022, 11:30 PM

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Epoch-Times-Bot

Sep 27, 2022, 11:30 PM
Gas Crisis Lands LNG Cargo Market in Hands of Energy Giants

LONDON/SINGAPORE—Rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses.
This grip is not expected to ease until 2026 when more liquefied natural gas (LNG) starts to materialize and lower prices, adding to supply worries for poorer states reliant on it to generate power and driving up costs for big Asia economies.
The global LNG market has more than doubled in size since 2011, ushering in dozens of new entrants and the expansion of smaller players in Asia. In recent years, smaller traders accounted for 20 percent of LNG imports in China alone....

Source: Gas Crisis Lands LNG Cargo Market in Hands of Energy Giants

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