No. of Recommendations: 3
The Europeans STILL buy enormous quantities of natural gas from the Russians. There's another place to look.Unfortunately, it takes a while to build an LNG terminal. Western Europe has been importing oil from the middle east and north africa for decades, so they have the port facilities. But not for nat gas. I have posted before about the Lithuanian official, interviewed on Amanpour, about their LNG terminal. They started the project several years ago, because they didn't want to be slaves to Gazprom. The terminal is now complete and operating. Not only are they no longer dependent on the Russians, the world market price they are paying now, is less than Gazprom was charging them.
Klaipėda LNG terminal (Lithuanian: Klaipėdos suskystintų gamtinių dujų terminalas) is a liquefied natural gas import terminal in the port of Klaipėda, Lithuania. It cost US$128 million to construct.[1] The developer and owner of the project is KN Energies.
The terminal started operating on 3 December 2014.[2] After the completion of the Klaipėda LNG FSRU, Lithuania became the fifth country in the world to use FSRU technology for liquefied natural gas.en.wikipedia.org - LNG terminalOther countries have other obstacles to overcome. Former German Chancellor Gerhard Schröder was Chairman of the Board of the Nord Stream II pipeline, and a member of the board of Rosneft. No matter how much Trump barked at the Germans to buy US LNG, rather than Russian gas, he wasn't going to get anywhere.
Steve
