Europe is being edged out of the global liquified natural gas (LNG) market as Asian buyers outbid for limited cargoes, with ship-tracking data showing several tankers changing course mid-voyage and close to a dozen Atlantic shipments being redirected.
The race for LNG intensifies as the Strait of Hormuz, a vital energy trade point responsible for roughly 20% of global LNG supply, remains hostage to the Iranians authorities in retaliation for missile attacks from the United States and Israel nearly one month ago.
