Number of tankers carrying LNG from US to Europe increases

The number of tankers transporting liquefied natural gas (LNG) from the US to Europe has increased by one-third over the weekend, from 15 to 20 vessels, Report informs referring to TASS.

“Twenty tankers with US gas were heading to Europe, the day before Christmas their number was 15,” the agency said in a statement. Another 14 vessels were “following in the same direction” but were still awaiting “final orders.”

According to Bloomberg, gas prices in European markets fell for four days in a row on expectations of US supplies. Nevertheless, the cost of natural gas is still 10 times higher than a year ago.

Under these conditions, the gas price at the Dutch TTF hub this fall for the first time in history exceeded $1,000 per 1,000 cubic meters, and in December – $2,000 per 1,000 cubic meters. However, the price of futures on the TTF hub is volatile due to speculative factors and doesn’t reflect the real price of physical supplies to Europe.