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A sizable block of scheduled US LNG cargoes are expected to be canceled for the month of August, according to a report by Reuters.
Approximately 40-45 August LNG cargoes will likely be canceled due to record gas prices in Europe (compared to US Henry Hub prices) as well as sustained declines in LNG demand from Asia due to COVID 19.
This is similar to the number of cancellations seen in July 2020 and nearly double that of June 2020.
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LNG Supply & Demand
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