From the Editor of EIRA:
Mixing economics with politics does not always pay off. So far in the first five months of 2016, LNG imports into Northwest Europe, predominantly from Qatar, plummeted by 15% year-on-year. The LNG cargoes were shipped to customers in Asia, experiencing a modest demand growth, and clients in the Middle East.
Moreover, the heralded arrival of US LNG amounted solely to just one delivery in late April (out of 14 from Cheniere Energy’s Sabine Pass in Louisiana) that reached its destination in Europe, more specifically in Portugal. The rest of US LNG ended up in South America; a more lucrative market which is currently on the rise.
It boils down to a simple observation: at the end of the day, business considerations prevail and determine energy flows.
For more on this on our current EIRA issue (EIRA Newsletter – Vol 4 Issue 7) please visit eiranews.com.