China LNG

Germany’s Federal Minister for Economic Affairs and Energy Peter Altmaier announced earlier this week that European nations were ready to build the necessary infrastructure to import liquefied natural gas (LNG) from the U.S. At this time, Europe has 28 ‘regasification’ import terminals.

The rapid growth in LNG imports to China, Japan and Korea is driving the cost of transportation higher, with Atlantic cargoes bound for Asia approaching $100,000 per day for Large LNG carriers, up from $30,000 per day a year ago.