LNG

The European Union may need up to 350 extra LNG cargoes this year, Helge Haugane, Equinor’s head of gas and power trading, told Bloomberg News yesterday.

In a worst-case scenario, European gas reserves could be only 30% full by the end of this winter, Haugane said, adding that attracting cargoes will be critical to refilling storage over the summer, which could be costly and require regulatory intervention.

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