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Severe winter exposes energy vulnerability across the globe

A scramble for gas has led to LNG prices and charter rates shooting up

February 17, 2021 / 09:18 AM IST
Severe winter exposes energy vulnerability across the globe

  As the world shifts to cleaner fuels from coal and oil to natural gas and renewables, new challenges are emerging. This was most evident in the US market, when natural gas that trades at an average of about $3 per mmBtu hit the ceiling. The wave of Arctic cold weather sweeping across the middle of the United States resulted in natural gas prices touching $600 per mmBtu in Oklahoma and $220 per mmBtu in Chicago. Physical gas was being bought...

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