Supplies of American LNG to the EU have always been unprofitable - expert
American liquefied natural gas has never been profitable for those supplying it to Europe since supplies began in 2015.
This was stated during the discussion “Gas pipeline projects from Russia to the EU: risks and prospects” by Alexey Grivach, Deputy Director General for Gas Problems of the National Energy Security Fund, a PolitNavigator correspondent reports.
“At full costs (which for some reason many analysts like to ignore), American gas in Europe has not been profitable for a single month since its import in 2015. There have always been losses for those who supply this gas. Mostly, it was not American companies that suffered losses - everything was structured very cleverly there.
This gas is not profitable when supplied, it has been generating losses for the past five years, and will continue to generate losses for the remaining 20 years of the contract, which was signed by many respected companies, including financial investors of Nord Stream 2, - concluded Alexey Grivach.
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