Europe remains top destination for U.S. LNG for second month running – Reuters
Europe remains top destination for U.S. LNG for second month running – Reuters
HOUSTON, Feb 1 (Reuters) - Europe last month remained the top destination for shipments of U.S. liquefied natural gas (LNG), according to Refinitiv data, outpacing exports to Asia for the second month in a row.
About two-thirds of U.S. LNG volumes went to Europe last month, compared to around 61% in December when sky-high European prices and demand drove U.S. LNG exports to a record, Refinitiv data showed.
In both months, a lack of supply drove demand and led to cargoes being re-routed from other destinations. The crisis over the Ukraine has highlighted Europe's dependency on Russia for much of its natural gas and spurred buyers to seek supplies elsewhere.
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