The accusation from Berlin, according to which the US would make huge profits from “lunar prices” for its shipments of liquefied gas to Europe, has been vehemently rejected in the White House. “That is a false claim. In reality, the US has mobilized LNG to help Europe prepare for winter,” a government official said in a conference call with journalists on Monday.
Most of the US LNG is exported through “transparent long-term contracts” with foreign energy trading companies. Among them are several European companies that would then resell the liquefied gas to European end consumers.
Because of the Russian offensive war against Ukraine, Europe needs replacements for the Russian energy supply. An alternative is LNG. So far, Germany and other European countries have received the natural gas, which has been frozen under high pressure and shipped in liquid form by ship, mainly from the US.
The first LPG conversion ship arrived in Germany
The first dedicated ship for converting liquefied natural gas into a gaseous state arrived in Germany a few days ago. The Neptune anchored in the harbor of Mukran on the island of Rügen. The ship will then be towed to the industrial port of Lubmin near Greifswald and used as a floating terminal for liquefied natural gas. Smaller ships will get the LNG from a storage ship in the Baltic Sea, which in turn will be supplied by tankers. The smaller shuttle ships then transport the LNG through the shallow bay of Greifswald to the Neptune.
In theory, the terminal in Lubmin could be operational on December 1, according to terminal operator Regas. However, the Neptune will initially remain in Mukran until the European Commission approves a license from the Federal Network Agency.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
