Europe Emerges as Top Buyer of US Gas
So far this winter, Europe has been the biggest buyer of US liquefied natural gas, and despite the fact that the key reason has been profit rather than politics, US LNG has increased its share of a market dominated by pipeline supplies from Russia and Norway.
US officials and LNG industry managers have expressed confidence that the United States can compete with Russia on the European natural gas market, of which Gazprom holds more than a third.
The US administration is keen to sell American LNG to European countries to help them diversify from Russia’s natural gas dominance, Oil Price reported.
In Eastern Europe, Poland and Lithuania - which see reducing Russian gas dependence as an issue of national security - have signed LNG supply deals with US companies.
In the rest of Europe, however, it is the current market and prices that dictate how much US LNG will be shipped.
With Asian LNG prices at their weakest in three years so far this winter, US LNG cargoes have found home in Europe, which is traditionally viewed as the market of last resort for LNG suppliers.
Currently, Europe is the largest buyer of US LNG after shipments surged fivefold compared to the previous winter. Europe overtook Mexico and South Korea as the single biggest destination for US LNG exports.
source: Financial Tribune
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years