LNG Cargo Prices Rising Faster Than Bitcoin – Bloomberg
Article summary
Photographer: Jasper Juinen/Bloomberg Photographer: Jasper Juinen/Bloomberg After years building out export capacity and hiring traders, producers of liquefied natural gas and commodity trading houses are seizing on an unprecedented surge in the price of the fuel. The combination of a severe cold snap in Asia, supply outages and maritime congestion has propelled spot prices for LNG to previously unforeseen heights. […] Winners in this rally include Exxon Mobil Corp., which sold a cargo last week for a record $130 million to Japan, and Total SE, which secured $126 million on Tuesday in a sale to trading company Trafigura Group. […] The world is not short LNG,” Richard Holtum, global head of LNG and gas for Trafigura, said in an interview from Geneva. […] There’s only 50 million tons of LNG that are going to be built over the next five years. That’s not enough.”
