Europe's Shift To LNG Might Push Others Back To Coal

Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices. This means some buyers may be priced out of this market for good. That, in turn, means they will turn to other sources of energy—like coal. It’s a domino effect even Zbigniew Brzezinski could not have foreseen. According to Bank of America’s commodity strategist Francisco Blanch, Europe needs about 300 million cu m of natural gas on a daily basis. To get them, it must offer high enough prices to lure in sellers…