More Asian LNG buyers are trying to avoid taking the U.S. supplies they signed up for just a few years ago in order to cut shipping costs.
GAIL India Ltd. and Indonesia’s PT Pertamina are both seeking to trade liquefied natural gas cargoes they are contracted to buy from the U.S. in exchange for supplies shipped from projects closer to home.
They’re following buyers such as Tokyo Gas Co. in trying to avoid deliveries of LNG from the U.S. after the global oil price crash reduced the discount of American gas relative to other suppliers. That’s made minimizing shipping distances more vital to buyers looking to reduce freight costs. Read More…
Credit By : .Bloombergquint.com
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