SINGAPORE/PARIS/LONDON - Global energy majors including Royal Dutch Shell and Total are expected to benefit most from January’s gas price spike, beating rival trading houses and non-integrated producers thanks to their access to multiple sources of the fuel.
However, majors such as Shell and Total, with access to multiple sources of gas, have been able to re-route U.S., Nigerian and Qatari gas tankers previously destined for Europe to Asian markets. “Traders don’t have such flexibility but majors do, especially those with access to Qatari gas,” said a source familiar with Qatar’s state firm QP.
Data intelligence firm Kpler’s shiptracking data showed Shell and Total diverting cargoes with Nigerian and U.S. LNG to Asia, with several other cargoes also changing destination towards Asia, though charterers were not clear.
Hmmm... If only there was a pipeline that ran though Canada and the US down to the Gulf of Mexico that could benefit more North American producers, add thousands of jobs, and help supply the demand overseas...
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