Bloomberg: Europe and Asia faced with the glut of LNG
Europe and Asia are facing an oversupply of liquefied natural gas (LNG), so prices for this type of fuel will drop in the coming weeks.
According to Bloomberg, now that the world market is oversaturated with natural gas, its prices will fall in both Europe and Asia.
According to experts, thanks to the warm winter, Europe was able to get through the heating season and save significant amounts of fuel in storage. For this reason, the EU will be able to complete the filling of its gas storage facilities by the end of August.
It should be noted that the attention of market participants is now drawn to the weather, which is expected next summer. Any significant variation in temperature can lead to an increase in gas consumption.
Additionally, competition for LNG could intensify in the third dish as many importers begin to winterize.
Read the Russia Ukraine News on The Eastern Herald.
