High prices lure US LNG imports
A 25% increase in US natural gas prices in less than two months has made the
US a more attractive destination for liquefied natural gas imports, said
Houston-based consulting firm Waterborne Energy.
U.S. East Coast gas prices have climbed nearly 25 percent since mid-March to
about $12 per million British thermal units.
A major supplier of LNG is Trinidad, and the US is a more cost-effective
destination from there than Europe.
Waterborne predicted a “slow, steady increase” through the summer for US
imports of LNG, while expecting demand to taper off in Europe and Asia due
to weather.
So far this year, US LNG imports have averaged less than 1 billion cubic
feet per day, down sharply from an average of 2.36 bcfd for the same four
months in 2007.
08 May 2008 19:38 GMT
| last updated:
08 May 2008 19:57 GMT
Latest jobs
