LNG

Vitol, the world’s largest independent energy and commodities firm, said its traded liquefied natural gas volumes increased slightly to 17.6 million tonnes during 2022 and with 67 percent sold to Europe in the fourth quarter.

European and Asian natural gas market prices declined and shipping spot charter rates began to gather pace while there were fewer cargoes to lift this week from global export plants.

The US Government forecasts that liquefied natural gas exports will be almost 85 percent higher in 2023 than they were in 2020 and that the nation’s natural gas production will increase in the next two years.