EU started purchasing shale gas from the US, the first tanker is expected today

Tokyo Gas' LNG Plant/Tanker Images

According to “Vesti Finance“, the European Union started buying shale gas from the US. The Swiss petrochemical giant Ineos Group Holdings is awaiting the first tanker from the US today, March 23.

A few years ago, buying American gas was unprofitable for Europe, but the production technology significantly improved since then, and now purchasing makes sense even taking into account transporting across the Atlantic Ocean.

For the Swiss client Americans carry shale ethane produced in the Marcellus field in western Pennsylvania. Shale companies of the state are happy about the agreement with the EU, since the production volumes reached the volumes when the capacity of internal gas pipelines, and internal storage volumes are not enough.



Image: Tomohiro Ohsumi/Bloomberg