Converging prices drive LNG purchases nearer home
Gas trading will split into three regional markets by 2020 which will lead to fewer long-haul shipments, say analysts
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London
THE tanker British Sapphire just finished its own version of Homer's Odyssey. BP plc's vessel, capable of holding 155,000 cubic metres of liquefied natural gas, set sail from Trinidad in mid-February in search of the highest price on world markets. It headed for Asia, changed course toward Europe when it was halfway to the Cape of Good Hope, and then sailed back toward the Caribbean.
It docked in the Dominican Republic after completing a 14,400-kilometre, month-long trip that left it 1,280 km from its starting point, and unloaded, signals from the ship compiled by Bloomberg from IHS Maritime data showed.
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