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Russia sending LNG shipment from sanctioned project to UK
[The Telegraph] Britain has emerged as the unlikely first recipient of gas from a sanctioned Russian project after fears of a winter supply crisis drove prices close to five year highs.Russian President Vladimir Putin opened the £20bn Yamal project on Russia's northern coastline last week. Shortly after, British wholesale gas prices soared to four-year highs when a crucial North Sea pipeline was put out of action by a crack and a distribution hub in Austria was hit by an explosion. Now a deal has been struck to bring the debut cargo from Yamal to the Isle of Grain import terminal via a specially built ice-breaking tanker by the end of the month. Britain rarely receives deliveries of liquid natural gas (LNG) in winter because prices are typically far higher in east Asian markets. However rocketing demand in Europe drove the price for gas delivered to the UK to more than $10 per million British thermal units. This put the UK on a par with Asian gas markets, which are some of the most expensive in the world. Posted by: Anguper Hupomosing9418 2017-12-15 |
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