After a bad year, the demand for LNG will soar in 2021.
(Photo: REUTERS)
Düsseldorf, New York, Bangkok A year ago there was still too much liquefied natural gas on the world market. The prices were so low that construction projects for new LNG terminals were crushed. Now the demand for Liquefied Natural Gas (LNG) has exploded to such an extent that it is driving gas prices worldwide – and is partly responsible for the current bottleneck in Europe.
The price of natural gas has been rising steadily for the past nine months and has recently reached an all-time high. On Friday, one megawatt hour (MWh) of the fossil fuel on the ICE futures exchange cost around 100 euros – a record. The price normally fluctuates between 15 and 20 euros per MWh on an annual average.
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