Article

Amid a severe winter storm causing record-high natural gas prices, several LNG companies, including BP and Shell, imported shipments into the U.S., marking an unusual shift for typically export-focused terminals like Elba Island and Cove Point. The storm, which led to extremely low temperatures and a surge in heating demand, resulted in production falling to a two-year low, with spot prices soaring and futures rising 124%. Shipments primarily from Trinidad and Tobago have been sent to various locations, highlighting complications related to the Jones Act governing LNG sales between U.S. ports.