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Stock impact report

Red Sea Disruptions Are Splitting Global LNG Trade Into Regions [Yahoo! Finance Canada]

TotalEnergies SE (TTE) 
Most Read from Bloomberg While dozens of such ships used to traverse the Bab al-Mandab Strait each month prior to the escalation of the Israel-Gaza war, attacks by Yemen's Houthi rebels have brought that number down to zero since mid-January. ADVERTISEMENT Vessels have been forced to reroute around Africa to transport fuel between the Atlantic and Pacific basins, leaving buyers with a limited pool of suppliers unless they're willing to pay for higher shipping costs. The result is that the global market for LNG is growing increasingly fragmented. “At the moment, more than ever, you have cargo segmentation of the two basins, and it will be more challenging economically to move a cargo from one basin to another,” said Patrick Dugas, head of LNG trading at TotalEnergies SE, at a conference last month. Traders have had to find homes for shipments closer to where they are produced to save on transportation. Those efforts will likely intensify when fuel demand ramps up ahead of ne Show less Read more
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