In an unprecedented move due to the Russian gas crisis, energy trading companies have resorted to storing huge quantities of liquefied natural gas, in light of expectations that the market will face a severe shortage of supplies during the coming winter.
Merchants are increasing their stocks of liquefied natural gas To sell them at higher prices, demand from owners of ships loaded with gas to extend their parking in ports.
According to Bloomberg Agency, public utility companies in Europe are asking owners of ships loaded with liquefied natural gas to extend their parking in ports due to the lack of places to store their cargo, following gas storage stations exceeded the maximum capacity.
Gas importers have also increased their demand for floating storage facilities with the aim of increasing their stocks to sell at higher prices with increased demand.
According to the energy information company Kpler, the volume of stocks in floating storage units for liquefied natural gas reached the highest level in two years, at the beginning of this month.
