LNG Freight Rates Surge By 50% As Europe Races To Refill Inventories

A month ago, global exports of liquefied natural gas reached a record high and are expected to increase further with rising winter demand. LNG tanker rates have surged, increasing by over 50% in just a week. The average daily rate for a 174,000-cu m LNG carrier crossing the Atlantic rose from $39,750 to $61,750. Europe, aiming to reach 90% of gas inventory capacity before winter, faces possible price hikes due to limited alternatives to U.S. LNG. Meanwhile, Pacific LNG rates climbed from $31,250 to $42,250 in a week.