LNG supply continues to tighten as European powers attempt to prevent a potential invasion of Ukraine by Russia.
Simpson Spence Young (SSY) said on Monday that tensions between the west and Russia, which provides Europe with 35% of its LNG, has contributed to lower than usual supply in recent months and was helping to push gas prices even higher.
The shipbroker’s note comes as French President Emmanuel Macron met with his Russian counterpart, Vladimir Putin, in hopes of preventing an attack and the US prepares “the mother of all sanctions”.
