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Uniper says Europe needs to find new gas sources

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LNG Industry,

According to the latest Reuters report, the CEO of Uniper has announced that European gas suppliers will have to take a more proactive role in tapping into diverse supply sources in view of US attempts to push its LNG into Europe.

Uniper is one of five companies that have invested in Nord Stream 2, a Russian gas export pipeline to Europe, which latest US sanctions related to Russia's activities in Crimea will make harder to realise.

The CEO said that European buyers needed to compete with those in Asia for LNG if they wanted to secure supply from the world market, where US cargoes were some 50% more expensive compared with European references prices.

He also said that European gas suppliers may look at new ways to produce synthetic gas from surplus renewable power.

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