Europe’s scramble for gas hurting poorer nations – media ...News

Russia Today - News
Europe’s scramble for gas hurting poorer nations – media
source : Russia Today ( News ) () 42
The EU is pricing developing countries out of the LNG market, the Wall Street Journal reports European countries are actively buying up liquefied natural gas (LNG) as an alternative to Russian pipeline supplies, depriving poorer countries that cannot compete for the fuel due to high prices, The Wall Street Journal reported on Friday. According to the publication, the price of LNG has skyrocketed 1,900% from its low two years ago. Current prices are equivalent to buying oil at $230 a barrel, while LNG normally trades at a discount to oil. Developing countries cannot compete with Europe for the supplies at such pric

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