European gas markets plunge despite US LNG cancellations

US LNG projects shut down and cut back on costs. Thats a hard one to swallow but what people tend to forget that those prices count for everybody who delivers gas into Europe. And thats first of all Russia that also needs to cover pretty extensive investments with those revenues. Everybody is bleeding – but LNG can scour the globe for the best prices once the market comes back. It will still flow into Europe when it finds no better. Pipeline suppliers cant escape. They get all the downside, no upside.

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