.. Gail Sells U.s. Lng Cargo To Europe Amid High Stocks In India
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28 Mar 2019

Summary

  • Full storage tanks of liquified natural gas (LNG) in India have prompted Gail India to sell a U.S. cargo bound for the Asia nation to northwest Europe, industry sources said on Wednesday.

  • The sale of a cargo already on the water is the latest example of an oversupplied LNG market that has resulted in Asian spot LNG prices falling to an almost three-year low of around $4.30 per million British thermal units (mmBtu) this week.

  • It also signals that India’s LNG demand, considered substantial compared to northeast Asia, is weaker than expected.

  • Europe has become a top destination this year for cargoes that cann......

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