Key energy market headed for crunch this winter

LNG demand is expected to outstrip supply as the West shifts away from Russia, data shows The liquefied natural gas (LNG) market could be hit with a potentially historic shortage this winter as the world rushes to secure the super-chilled fuel, Bloomberg reported this week, citing experts. According to the sources, the EU’s plan to cut imports of piped Russian gas by two-thirds by the end of this year and replace it with LNG from the US and Africa is sharply intensifying competition for the power-plant and heating fuel. In a normal year, LNG importers stock up on supplies for the peak winter season over the summer

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Last updated : 29 May 2022 clock 12:44 PM

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