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LNG Discount to Oil Boosting Demand: Flex LNG

LNG

A big discount in LNG prices to oil and a “huge discount” to diesel are boosting demand in new regions according to CEO of shipowner Flex LNG, Oystein Kalleklev.

  • “We have seen European gas demand bouncing back, driven by the residential and commercial sector, also driven by industry. We haven’t really seen it on the power side yet, so this is something we will monitor, and we do expect low prices will affect consumer behaviour,” he said.
  • “We see demand really bouncing back” in the emerging Asia region.
  • Spot LNG tanker rates are expected to hit a bottom in March. Rates are softening seasonally before rising again for the summer season with a typical ramp up in rates in August and September.
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