Uniper could swap Australian LNG for Atlantic gas to supply Europe quicker

Uniper could swap Australian LNG for Atlantic gas to supply Europe quicker

Germany’s Uniper is prepared to swap liquefied natural gas (LNG) it gets from Australia’s Woodside for US gas, so it can boost supplies in Europe more quickly during the coming winter, it said.

The strategy reflects efforts by companies and governments across Europe to seek alternative lines of supply and draw up contingency plans for the upcoming winter gas season, fearing Moscow could fully stop supplies of natural gas.

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In case of supply shortages, Uniper could make available to customers in Europe, US LNG that was earmarked for Asian customers and could be sitting in the Atlantic, speeding up potential supply.

“Uniper does its utmost to bring in additional or redirect existing cargoes to Germany. The volumes from Australia could be swapped against volumes originating in the US and currently in the Atlantic and destined for Asian buyers in China, India and Japan,” a spokesperson for the company said.

“We may make use of that facility in the coming winter, in case the volumes were needed for Europe,” the spokesperson said, declining to give details of timings and volumes.

Uniper, which has a big wholesale energy trading floor with global reach, said