“Europe now has so much natural gas that prices just dipped below zero”
Now, EU gas storage facilities are close to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling.
The bloc has ramped up imports of LNG from the United States and Qatar as natural gas imports from Russia plummeted.
Felix Booth, head of LNG at data firm Vortexa, told CNN Business that as many as 35 vessels are either floating near, or sailing very slowly towards, ports in northwestern Europe and the Iberian peninsula because of a lack of storage options.
www.cnn.com/2022/10/26/energy/europe-natural-gas-prices-plunge/index.html
h/t Cap’n Obvious
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