LNG Freight Rates Hit $450,000 a Day as Russia Disrupts Fuel Supplies
Ships carrying liquefied natural gas command record prices as Asia and Europe propel demand
Nord Stream: How Russia Has Turned Its Gas Into a Global Economic Weapon
Western leaders are preparing for the possibility that Russian natural-gas flows through the Nord Stream pipeline might never return to full levels. WSJ’s Shelby Holliday explains what an energy crisis could look like in Europe, and how it might ripple through the world. Illustration: said by David Fang
Daily freight rates to ship liquefied natural gas are at a record high, and prices are expected to climb further as winter approaches.
Spot rates for ships commonly used to transport LNG are at $450,000 this week, a sixfold increase since the start of this year.
According to the Baltic Exchange a London-based, freight-information provider. Brokers expect daily rates along main trade routes, including one from Texas to Northern Europe, to climb to $500,000 this month as the demand to charter ships remains high.
