aA
America's first shipment of liquefied natural gas to Europe, which left Louisiana for Portugal this week, is set to shake up the European gas market, according to the Wall Street Journal.
First American LNG shipment to Europe 'could trigger price war'
© DELFI / Orestas Gurevičius

The tanker Creole Spirit is carrying the sixth cargo to be exported by Cheniere Energy Inc and the first one destined for Europe after the US started selling gas abroad in February.

Portugal’s energy company Galp Energia has bought the first European cargo from Cheniere’s Sabine Pass facility, according to a person familiar with the transaction.

The tanked is expected to arrive at the Port of Sines in Portugal on April 26.

"In Europe, American gas will add to a swell in supply in a crowded market long dominated by Russia," the Wall Street Journal reports, quoting analysts who say that American LNG will set off a price war with pipeline gas suppliers.

The impact of US gas in Europe “will be gradual, but it does start to change everything,” said Trevor Sikorski of London-based consultancy Energy Aspects. “The new LNG will put downward pressure on prices, and losing both volume and value could be a hard pill to swallow” for Russia.

Lithuania launched its own LNG terminal in late 2014, which enables the Baltic country to import gas from suppliers other than Russia's Gazprom.

|Populiariausi straipsniai ir video

Lithuania's Devold says could make 100,000 medical coveralls by late summer

Norwegian-owned Lithuanian textile manufacturer Devold says it could producer around 100,000...

Tax revenue 15 percent short of target in March

The Lithuanian central government's tax revenue fell around 15 percent short of the target in March,...

Avia Solutions Group bought Bluebird Nordic

On the 24th of January 2020, Avia Solutions Group signed an agreement with BB Holding EHF for the...

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Top news

Entry to all cities and towns to be restricted over Eastern weekend

Entry to all cities and towns in Lithuania will be restricted over the upcoming Easter weekend,...

Russia’s attempts to spread panic and distrust over virus monitored

The Lithuanian State Security Department (SSD) is monitoring the attempts to spread panic over...

14th coronavirus death recorded in Lithuania 843 COVID-19 cases detected

A coronavirus -infected person died in Lithuania's northern city of Panevezys on Monday, bringing the...

Ursula von der Leyen. How our Europe will regain its strength

The last few weeks have turned our world upside down. It seems like a lifetime ago that we were going...

Coping with quarantine far from home: how Kenyan student hides from coronavirus in Vilnius

Kenyan student Linah Kitui had never been to Europe before coming to Vilnius this February. A...

|Maža didelių žinių kaina