LNG

Declining North Sea gas production has raised concerns over the UK’s future energy resilience.

Bangladesh’s Petrobangla and several Indian buyers are tendering for spot LNG, puling more than 11 cargoes away from Europe towards Asia by early April. Further diversions are likely since Indian companies awarded only 4 out of 15 spot LNG tenders for April and May so far, according to Platts data.

Europe is turning to the US as the most flexible source of replacement gas for lost Qatari volumes, with the share of US LNG soaring to nearly 60% of all LNG arrivals into the EU since the Iran war escalated, according to Kpler data.

Prolonged price volatility in LNG markets is upending sales and purchase agreements (SPAs) as traders sound alarm over JCC/Henry Hub swings eroding fixed-price economics.