Top Ships Inc (TOPS)

[Anite]

Segalen said companies with gas to sell in the US can fill a large ship and send it across the Atlantic for around $60 million, with the cargo then fetching around $275 million in Europe.

Buyers who locked in deals to purchase US natural gas before the latest surge in European prices would also be making huge profits, according to Segalen.

Felix Booth, head of liquefied natural gas analysis at Vortexa, said he thought companies could be making around $150 million on each shipment.

"It's an incredible arbitrage that's open at the moment," he said. Booth said anyone holding natural gas in the hope that its price would rise has experienced "incredible" profits.