DECRYPTION – The situation is paradoxical to say the least in this period of energy crisis.
Madrid
Eight LNG carriers anchored in the Bay of Cadiz. And almost 30 others who make circles in the water, waiting to know where to unload their cargo, while the reserves of many European countries are almost full. The situation is unprecedented, and to say the least paradoxical in this period of energy crisis where threats to the supply of Russian gas have convinced a large part of the world to urgently find alternative sources.
Reuters, citing traders, analysts and sources at gas terminals, counted last Monday “over 35” ships loaded with liquefied natural gas (LNG) that it locates “adrift around Spain and in the Mediterranean”. On the same day, Enagas, the operator of the Spanish gas system, published a note explaining that the current weak demand – caused in particular by the mild temperatures and the lower consumption of the industry frightened by the surge in prices – coincided with a reserve filling rate…
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