MOSCOW: The United States redirected gas intended for liquefying and export supplies to the domestic market because of the Arctic cyclone an...
MOSCOW: The United States redirected gas intended for liquefying and export supplies to the domestic market because of the Arctic cyclone and Europe risks losing competition for gas to the US domestic market amid the rise in prices, Gazprom said.
"Natural gas deliveries to liquefying terminals in the US declined dramatically over the past weekend, when the Arctic cyclone stormed into the country. The cold snap led to redirection of gas intended for liquefying terminals to the US home market," the Russian gas company said.
"Month ahead" gas prices in the United States at the Henry Hub terminal soared more than twofold amid such background and reached $245 per 1,000 cubic meters, climbing to maximum since December 2022, Gazprom noted. "The European market is close in such price environment to losing LNG competition to the US domestic market, as it has already occurred with some Asian markets," the company added.
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