A new report suggests the Biden administration’s freeze on new LNG projects and sanctions against Russia kept global liquefied natural gas exports seeing their slowest growth since 2015. It also means prices will be elevate until new supplies come online.
The LNG market has been finely balanced since the 2022 invasion of Ukraine cut Russian pipeline gas to Europe, forcing the continent to depend more on the super-chilled fuel, reported Bloomberg. The lack of new exports has made the market susceptible to price spikes for buyers in Europe and Asia.
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