Europe could import some 100 million tons of liquefied natural gas this year as many cargoes turned down by Asian buyers head for the continent, Reuters has reported , citing energy analysts. Last year LNG imports to Europe reached 85 million tons, an all-time record at the time. Yet it seems that depressed demand for LNG in Asia—a key market for the blooming industry—will drive this year’s intake by European countries substantially higher, with 78 cargoes of excess LNG coming from Asia into northwestern Europe. The problem is that the European LNG market is already oversupplied. Last year, the Gate Terminal in the Netherlands, which takes in a lot of the LNG coming into the continent, said it processed a record 171 LNG carriers in 2019. It seems a lot of the LNG remained in storage, sparking concern that soon Europe will not be able to handle the unwanted […]