Vitol predicts price war between LNG, piped gas in Europe

摘要

A price war between LNG and pipeline gas will take place in Europe in the coming years as the US Henry Hub and UK NBP prices converge, the head of LNG at global trader Vitol said Thursday. Speaking at the IP Week conference in London, Pablo Galente Escobar also said the global LNG market was headed for a period of "tremendous" oversupply in the coming years - in stark contrast to the outlook from Shell earlier this week that dismissed the idea of an LNG supply glut.