Ukraine Gets Its First U.S. LNG Cargo via Greek Terminal | OilPrice.com

Ukraine has taken delivery of its first U.S. LNG cargo at a Greek terminal as Ukraine and Europe look to bolster their energy security by reducing their dependence on Russian gas, Ukraine’s largest private energy company, DTEK, said on Friday.  

The delivery of approximately 100 million cubic meters of gas, or 1 TWh of energy, onboard the Gaslog Savannah arrived at the Revithoussa LNG terminal in Greece on Friday morning. D.TRADING, DTEK’s pan-European trading subsidiary, has purchased the entire cargo.

Working with Greek and other partners, the LNG will now be re-gasified and exchanged through European Union and Ukrainian gas networks, the Ukrainian company said.

“The arrival of this LNG cargo is a clear signal of DTEK’s determination to play its part in strengthening Ukraine and Europe’s energy security,” said Maxim Timchenko, chief executive of DTEK.

“Cargoes like this are not only providing the region with a flexible and secure source of power, but are further eroding russia’s influence over our energy system. We are very grateful to the United States for the strategic contribution it is making to Europe’s energy security with such shipments,” Timchenko added.

DTEK’s trading subsidiary signed in June a Heads of Agreement (HOA) with U.S. firm Venture Global for the supply of U.S. LNG to Ukraine and Eastern Europe. 

The arrival of the first such U.S. LNG cargo comes days before the deal for Russian gas flows to Europe transiting Ukraine expires on December 31.

On Friday, Europe’s benchmark natural gas prices soared by the most in a week after Russian President Vladimir Putin said on Thursday that the chances of a new deal for Russian gas flows to Europe via Ukraine are low.

On Thursday, Putin said that there isn’t time for a new gas transit deal to be reached between Russia and Ukraine. The Russian president was quick to add that the lack of a deal was entirely Ukraine’s fault. 

By Charles Kennedy for Oilprice.com

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