A tight global gas market - triggered by a cold, long winter, competition between Asia and Europe for LNG cargoes, low storage levels, and constrained Russian gas flows to Europe - has pushed prices across the globe to record highs. Low global LNG utilization rates are also keeping a lid on LNG supplies despite strong demand, especially in China which has become the number one LNG importer on impressive gas-for-power demand growth and a strong industrial recovery. And Europe is struggling to find enough gas to meet demand and fill storages, which remain at very low levels for the time of year.
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