World’s Largest LNG Traders See Losses Mount Despite High Prices

Despite sky-high LNG prices, the world's largest liquefied natural gas traders have seen hundreds of millions of U.S. dollars in losses in recent months as production outages diminished the supply of cargoes under offtake deals, forcing traders to source more expensive spot LNG to fulfill orders.   The top LNG traders, some of which are also the biggest international energy majors, realized lower earnings in their gas trading divisions in the second quarter compared to an "exceptionally strong" first quarter, majors such as Shell, BP,…