Europe’s Lack Of LNG Import Capacity Becomes Everyone’s Problem

Europe’s Lack Of LNG Import Capacity Becomes Everyone’s Problem

Share to Linkedin The Gaslog Gibraltar Liquid Natural Gas (LNG) tanker docked at Grain LNG importation terminal, ... [+] operated by National Grid Plc, on the Isle of Grain near Rochester, U. K., on Wednesday, March 30, 2022. Net imports of LNG into northwest Europe in March are near record-high levels seen in January, easing some pressure on prices after wild swings earlier this month. Photographer: Chris Ratcliffe/Bloomberg Europe's ongoing massive intervention into the liquefied natural gas trade has become a global problem as dozens of LNG tankers linger offshore for days or even weeks at a time waiting to be allowed to come into the continent's limited number of regassification facilities to offload their cargoes. Offshore Spain and other Mediterranean ports alone, Reuters reported Monday the presence of "more than 35 LNG-laden vessels" losing precious time as they await permission to move into port. Writers Marwa Rashad and Belén Carreño appropriately note the reality that, "[i]f the backlog is not cleared soon those ships may start looking for alternative ports outside Europe to offload their cargo." Of all the myriad reasons why Europe's plan to rely on imports of LNG to displace its' self-imposed reliance on natural gas coming