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Freight costs shift more US LNG cargoes toward Europe
The U.S. Atlantic-Pacific arbitrage is closed for the rest of the year, sending most U.S. spot LNG cargoes to Europe where freight is cheaper.
Europe is taking more U.S. LNG supplies as traders redirect cargoes away from Asia, with OilPrice citing closed shipping arbitrage and possible winter gas supply concerns as key drivers.
The outlet says the Atlantic-Pacific arbitrage is shut for the rest of the year due to high shipping costs, which has made it less economical to move LNG between regions.
As a result, most U.S. spot LNG cargoes are being pushed toward Europe, where freight costs are lower, OilPrice reports.
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