Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
LNG | Natural Gas

Europe to be top US LNG export destination: Eni executive

Energy | Bunker Fuel | LNG | Natural Gas | Oil | Refined Products | Fuel Oil | Shipping | Marine Fuels

Preparing for IMO 2020

LNG | Natural Gas | NGL

Platts LNG Alert

Commodities | Electricity | LNG

Infrastructure Summit, Inaugural

Natural Gas | Natural Gas (North American)

Analysis: AECO hub rallies near Chicago prices on rising Alberta demand

Europe to be top US LNG export destination: Eni executive

Cairo — Europe is likely to be a prime destination for US LNG cargoes well into the next decade as shipping costs make Europe preferable to Asia as a destination for US exporters, Massimo Mantovani, head of gas and LNG marketing at Italy's Eni, said Monday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Speaking to journalists at the EGYPS conference in Cairo, Mantovani said the situation could change around 2024 as projects come on stream in various parts of the world, including Qatar, Mozambique and the US. He highlighted as an example a final investment decision taken earlier in February by ExxonMobil and Qatar Petroleum to develop the Golden Pass export project in Texas.

"At the moment, the European market pays a good price, for sure better than the Asian market [taking into account] shipping costs," Mantovani said. "Probably for the next couple of years we will see US LNG in Italy, because the market is in such a situation that we think there will be room."

"Then we may have a couple of years' gap before all the new projects kick in ... the North field in Qatar, the new joint [Golden Pass] venture between Qatar and the US, and if you consider Mozambique," he said, referring to Eni and ExxonMobil's plans to approve the Rovuma project in Mozambique this year. "You have a lot of LNG coming after 2024."

But Europe's purchases of US LNG will not put an end to the continent's energy security worries, Mantovani added, arguing demand would grow in Europe while production declined.

"There are security worries because the European gas market is growing, not as much as other markets, but it's growing. But the key issue is production is declining, so you do have to have more imports," he said.

"Russian gas is essential for the European market, but it cannot be the only gas supply. [Russia] will reach a level of about 200 Bcm this year -- nearly 40% of the European market. That's a level which will be capped. The new gas which will have to be imported," he added.

(Corrects spelling of Eni executive's surname to Mantovani)

-- Nick Coleman,

-- Edited by Keiron Greenhalgh,