The battle for energy market dominance is taking to the high seas. Once a niche element of the global market, super-cooled mega-tankers filled with liquefied gas are increasingly criss-crossing the globe. Liquefied natural gas, or LNG, is now the world’s fastest-growing source of energy. The boom in trade has kickstarted trillions of dollars of investment in export projects in the US, Qatar and Australia to meet the growing needs of super-consumers in China and Europe. But it is also set to reignite smouldering trade tensions between the US, China and Russia in an ultra-high stakes game of political one-upmanship. China’s shock decision to include LNG in a raft of US exports that are set to face crippling import tariffs is likely to put the US on a collision course with Russia in the fight for European gas buyers. But this is not the first time the LNG market has been thrown into flux. The ascent of LNG to the commodity trading mainstream and a political weapon has been riddled with false starts for decades.
Telegraph 11th Aug 2018 read more »