UK to import rare Australian gas cargo in its worst energy crisis

UK to import rare Australian gas cargo in its worst energy crisis

The UK will shortly receive liquefied natural gas from Australia for the first time in six years, showcasing the European region’s torment in struggling with its worst energy crisis in decades.

The LNG tanker Attalos is en route to the UK with a cargo that started at Australia’s North West Shelf project, according to energy intelligence firm Kpler, According to the ship-tracking data compiled by Bloomberg show, the vessel will reach the Isle of Grain terminal in the east London on Aug. 22

The UK and Europe usually import LNG from countries like Qatar, the US, and even Peru. Because of the hassles of long journeys and high demand from Asian buyers, imports from the Asia-Pacific region are a rare occurrence. Australia hasn’t delivered a single LNG cargo to Europe since 2016.

While Britain’s gas network is separate from the continent’s grid, the two are closely connected via pipelines. The UK does not have too much domestic storage and usually sends any excess gas to the European Union. This year, gas prices have surged in Europe and UK, with the market facing an acute shortage in recent weeks as Russia restricts supplies to the EU and a heat wave chars the region.