Natural Gas News – May 4, 2023

Natural Gas News – May 4, 2023

British Exports Are Doing Better Than You Have Been Told

The FT (and others) have been at it again. I have written before about the Financial Times’ anti-Brexit bias and how its journalists misuse data in presenting Brexit as an “entirely negative and irredeemable event” which must be reversed. Well they have been at it again in two recent articles. The first entitled “Brexit blamed as UK misses out on global trade rebound” and the second entitled “UK’s goods exports lowest in G7 following Brexit, study finds”. The chart below is taken from the former article and purports to demonstrate a fall in the volume (not value) of UK goods exports in the three months to January 2023 versus the same (unusual) three month period in 2020 (and then on a rolling average basis since 2017). The chart below is taken from the latter article and again purports to look at the volume of UK … For more info go to https://bit.ly/3pbeylT

Full Steam Ahead for U.S. LNG Exports

U.S. producers of liquefied natural gas (LNG) exported at top capacity in April for a second consecutive month, with over two-thirds of shipments bound for Europe and rising volumes to Latin America, Refinitiv Eikon data showed on Monday. Following the full restart of a key Texas export facility in February, U.S. LNG producers are taking advantage of firm prices overseas and increasing demand in some markets. A total of 107 cargoes departed from U.S. ports last month carrying 7.78 million tonnes of LNG, slightly below the previous month’s record of 7.80 million tonnes, according to the preliminary data, based on tanker movements. Customers in Europe are set to receive 72% of the U.S. LNG shipped in April, followed by Asia with 12% of the total. “The U.S. remains Europe’s major LNG export… For more info go to https://bit.ly/42twBlz