First tanker with liquified gas from USA arrives to Europe


It is expected that 300-meter LNG carrier Creole Spirit will arrive in Portugal on April 26.

Analysts call it “the beginning of a price war” between the American LNG and pipeline gas market, currently dominated by Russia.

Based on current fuel prices, American LNG will cost about $4.3 per million BTU, while Russia sells its gas to Europe by an average of $5.8 per million BTU. If Russia starts dumping to displace Americans, the price can eventually drop to $3.

In any case, they will need to share the market, and former “blackmailing” won’t work anymore.