There is currently no economic sense to sell liquefied natural gas (LNG) imported from the United States in Europe, as pipeline gas is more competitive in the region, Italy's energy giant Enel CEO Francesco Starace said Wednesday.
MOSCOW (Pakistan Point News / Sputnik - 03rd October, 2018) There is currently no economic sense to sell liquefied natural gas (LNG) imported from the United States in Europe, as pipeline gas is more competitive in the region, Italy's energy giant Enel CEO Francesco Starace said Wednesday.
"We have contacts to import LNG from the US, they have started delivering cargoes to us this year. These contracts were designed to be shipped to Europe, but so far we sold these cargoes to Asia, South-East Asia, not to Europe, because of economic convenience. There is no economic convenience to sell LNG into Europe when you can sell it elsewhere where the prices are higher... it is very difficult to compete with pipeline gas in this part of the world, it is as simple as that," Putin said at the plenary session of the Russian Energy Week forum in Moscow.
