Economics
How Many Gas Tankers Would It Take to Wipe out a U.S. Glut?
- Mild winter and high output have sent stockpiles soaring
- First LNG export from Cheniere terminal expected on Wednesday
Asia Vision sits docked at a terminal in Sabine Pass, Texas, on Feb. 22.
Photographer: Eric Kayne/BloombergThis article is for subscribers only.
At least 163 tankers.
That’s how many cargoes of natural gas it’d take to wipe out the ever-expanding glut of the heating and power-plant fuel in the U.S. A mild winter and production still flowing out of America’s shale formations have inventories swelling compared with previous years, dragging down U.S. gas prices even as the first export of shale gas prepares to leave from Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana today.