28 May 2020
The world is awash in LNG as demand has fallen from the pandemic. European benchmark prices have slipped below Henry Hub, which is also trading near parity with Asian gas, making it largely uneconomic to move to key overseas markets. Oil-indexed LNG has also become more competitive given the slide in crude prices. Shipbroker Poten and Partners said earlier this month that roughly 130 U.S. LNG cargoes could be canceled between May and October.
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