South America becomes home for US gas

London

US liquefied natural gas (LNG) was supposed to go mainly to Asia and Europe, lured by prices as much as four times higher than those at home. So far, South America has been the destination of choice.

Thanks to a global glut that depressed prices, Cheniere Energy Inc has sent more than half of the LNG tankers from its Sabine Pass terminal in Louisiana to South America. Premiums once available in Asia and Europe disappeared and those regions are well-supplied from elsewhere.