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18 Aug, 2022 06:12

UK awaits shipment of Australian LNG – media

Data shows a tanker carrying the fuel is already on its way
UK awaits shipment of Australian LNG – media

The UK has started importing liquefied natural gas (LNG) from Australia, Bloomberg reported on Wednesday, citing data from energy analytics company Kpler.

According to the report, LNG tanker ‘Attalos’ has left Australia’s North West Shelf site and is currently on its way to the Isle of Grain terminal east of London. The ship is due to arrive on August 22.

The last LNG shipment from Australia to Europe took place in 2016, according to Bloomberg. The UK usually imports LNG from the US or Qatar, as the routes are shorter and therefore shipments are much less expensive than deliveries from the Asia-Pacific region.

The UK has been grappling with simultaneous energy and cost-of-living crises, as rising global prices on fuel have been driving up the cost of virtually everything else. The search for new fuel suppliers has become one of the measures aimed at tackling the crisis in the country, especially after the UK placed an embargo on Russian oil.

The UK’s Institute for Fiscal Studies (IFS) said in a report last week that London will need to spend a further £12 billion ($14.5 billion) on a support package for households to keep pace with higher-than-expected energy prices.

For more stories on economy & finance visit RT's business section

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