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    Europe does not have time to receive incoming LNG shipments

    May 25, 2022 - Turan Information Agency


      Baku/25.05.22//Turan: The exhaustion of free capacities for receiving liquefied natural gas in Europe leads to an increase in the waiting time for unloading LNG tankers, a reduction in ship capacities around the world, which becomes a new factor in the growth of fuel prices, Rystad Energy analysts say.

      Experts point to a lack of empty tanker unloading and parking spaces at terminals in Northwest Europe, including the UK, with gas pipelines from LNG importing countries to neighboring countries already operating at full capacity.

      The waiting time for tankers to unload is increasing, in fact, many ships on the high seas have turned into floating storage facilities, Rystad notes. This reduced the number of boats available on the market, pushing up charter rates in the Atlantic.

      With most of the ships on the spot market sailing across the Atlantic to Europe, the supply of ships in the Pacific has suffered, which has also pushed up freight rates in the Asia-Pacific region.

      According to Gas Infrastructure Europe, over the past 7 days (May 16-22), the acceptance of LNG terminals in Europe has decreased by 4% compared to the figure for the first 7 days of May. At the same time, stocks in terminals increased by 9%. The average level of terminal bandwidth usage remains below 65%. -0-


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