The biggest rally in U.S. natural gas futures since the beginning of the century has some traders betting that prices will spike to an unheard-of $40 per million British thermal units.
It’s not just extra natural gas that Europe’s struggling energy markets are finding tough to get from Russia.
Qatar Petroleum said it entered into a long-term sale and purchase agreement (SPA) with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the supply of 3.5 million tons per annum (MTPA) of LNG over 15-year period starting January 2022.
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