LNG Cargoes to U.K. Drive Biggest Price Drop Since ’09: Freight
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Faced with slumping demand for liquefied natural gas in Asian markets, Qatar is shipping cargoes to Britain, deepening the biggest seasonal price drop for the fuel there in five years.
Qatar, the biggest producer, will send at least eight cargoes to the U.K. this month, taking the total since April to 35, six more than last year, data compiled by Bloomberg show. Prices on the U.K.’s National Balancing Point, the largest trading hub outside the U.S., have fallen 26 percent since the summer started on April 1.