US Natural Gas Glut Amid Global Scramble and Iran War Impact

While Asia and Europe scramble for natural gas, the US glut has nowhere to go

The US war on Iran has boosted prices of globally traded natural gas by throttling exports from the Gulf. In West Texas, gas is so abundant that some producers must pay to have it taken away. The war and Iran’s attacks on Gulf energy producers have halted 20 per cent of global liquefied natural gas (LNG) supply. Qatari LNG facilities have been damaged, and tankers have been unable to sail through the Strait of Hormuz waterway at the Gulf’s entry because of Iranian threats to fire on them. The...

By none@none.com (Reuters)