Europe to become main off-taker of US LNG
Baku, Azerbaijan, Feb. 24
By Elena Kosolapova - Trend:
Europe will probably be the main off-taker of US spot LNG, Emma Richards Oil and Gas Analyst in BMI Research said at the webinar, answering Trend agency's question.
"We see their supplies concentrated initially in Europe," Richards said.
The webinar titled Global LNG Outlook was organized by BMI Research which provides macroeconomic, industry and financial market analysis, covering 24 industries and 200 global markets.
Richards also noted that a lot of US LNG contract volumes have been contracted to big, global portfolio players, such as for example BG Group.
Speaking about the LNG price, Richards said they should be at least $1.50 over the European top prices to make LNG spot exports to become profitable on a wide scale.
According to the Energy Information Administration (EIA) of the U.S. Federal Statistical System, US LNG export hit 16.26 billion cubic feet in 2014. The bulk of this volume was supplied to Japan. The data for 2015 has not been announced yet.
Edited by SI
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