Failure of US bid to flood Europe with Gas from Fracking

With so much anti Russian hysteria US officials overlooked the price difference. Gas shipped from the first US LNG export terminal was at one point priced in Rotterdam at $7.85 to $8.35 per mbtu while the average Euro price was $ 5.35

The Free

 by TheFreeOnline      A few months ago US officials were openly boasting that they would steal the market for Russian gas in Europe by replacing it with their own LNG now flowing from the devastated fracking fields of America.
But in recent weeks not a single cargo of Frack Gas has reached Europe..What went wrong?
It seems that with so much anti Russian hysteria  they overlooked the price difference. . Gas shipped from the first US LNG export terminal was at one point priced in Rotterdam at $7.85 to $8.35  per mbtu  while the average Euro price was $ 5.35, (May 2017 European price, see Climate-lethal US frack-gas Footnote 3) .Even the rabidly anti Russian Baltic Republics seem to have shut up about bashing Putin with US gas, while Rotterdam has signed up as the trans-shipment center for cheap LNG from the new Russian LNG plant…

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2 thoughts on “Failure of US bid to flood Europe with Gas from Fracking

  1. So, basically, large areas of the U.S. are being destroyed for nothing. Countries are turning away from the U.S. in record numbers while government officials are continuing the devastation wrought by fracking even though, no countries are interested in purchasing gas extracted from the ground due to fracking by the U.S. because they can get cheaper gas from Russia? This is rich! I guess all that Russia bashing is having no effect with countries needing gas when price comes into it. Why pay the U.S. higher prices when countries can get the gas cheaper from Russia? That’s a no-brainer.

    Liked by 1 person

  2. No-brainer is absolutely right, Shelby. It’s my understanding that banks are refusing to fund new fracking, pipeline and LNG operations because so many fracking companies have gone bankrupt at this point. In our cockeyed world banks are the new master. Nearly all big projects of this nature are deficit financed and paid off over 20-30 years time. With renewables coming on so quickly fewer and fewer banks are willing to finance fossil fuel projects – out of concern that in 30 years time consumers won’t be buying fossil fuel because it’s far more expensive in the long run. Most of what you read in the media glorifying fracking, pipelines, etc is basically a sales job on the banks but they aren’t buying it any more. But this is also the reason you don’t read about the financing dilemma in the media much – I think most of the corporate media outlets still relying heavily on the fossil fuel companies to pay their bills.

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