Largest beneficiary of rising gas prices in Europe

According to a report by S&P Global Platts, U.S. LNG production is gaining momentum as gas prices rise on global markets.

The agency’s report says: “High gas prices, which are trading at $100 per million British thermal units in European markets, are pushing US LNG export terminals to increase production as demand for (trace gas) peaked this week. the highest level. Valid from the beginning of July 2022.

According to the agency, demand for gas at US export stations on August 25 exceeded the level of 11.5 billion cubic feet per day (about 325 million cubic meters), the highest level since July 1, 2022.

This summer, all US LNG export projects are ramping up production.

Last week, gas prices on European exchanges approached historical records amid reduced supplies from Russia, as the Russian company Gazprom announced a temporary shutdown of the Nord Stream 1 gas pipeline.

However, prices for blue fuel have returned to decline today, as they fell by more than 16%, and futures contracts for blue fuel are traded below the level of $3,000 per thousand cubic meters.

Source: Prime

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