According to Reuters, the Australian energy giant, Woodside has sent its first LNG shipment to Europe.

Germany’s Uniper purchased the 75,000-ton shipment. The North West Shelf project in Western Australia produced liquefied gas.

As quoted by Reuters, Uniper’s Head for LNG said: “We continue to work on securing the much needed gas supply into Europe from reliable sources like Australia and thus helping to strengthen security of supply during the ongoing crisis triggered by the Russian war.”

In the absence of Russian pipeline flows, Europe has been searching for LNG supplies globally, with Germany concentrating on cutting its reliance on Russian gas to a minimum and eventually eliminating it. Even though storage tanks are full following a longer-than-typical refill season this year, Germany purchasing LNG from Australia at a time when inflation in that market is already sizable demonstrates the serious scenario with energy supplies in Europe’s largest economy.

More than half of the EU governments have protested the EU’s gas bills, which are far higher than they typically are. Calls for a price cap on gas imports were sparked by the protests, but a deal on a cap is currently proving difficult to come by.

Also quoted by Reuters, the executive VP of Woodside, Mark Abbotsford, said: “Events over the course of 2022 have shown that the world cannot take reliable and affordable supplies of energy for granted, particularly as we strive to decarbonise.”

“At such times it is more important than ever that buyers and sellers work together to flexibly respond to market dynamics. Our relationship with Uniper is an example of such cooperation. The delivery of a North West Shelf LNG cargo to Europe also highlights the role that Australian LNG can play in supporting global energy security.”